In 2014, the Rinaldis vacation cottage was severely damaged by an earthquake. They had AGI of $110,000 in 2014. Following is information related to the cottage: Cost basis $ 95,000 FMV before casualty 135,000 FMV after casualty 20,000 ________________________________________ The Rinaldis had insurance and received an $80,000 insurance settlement. What is the amount of allowable casualty loss deduction for the Rinaldis in 2014 before the AGI and event limitation? $14,900 $ 45,000 $ 3,900 $15,000