In a fight against the Death Eaters, the Weasleys' residence was completely destroyed by fire. The Weasleys was insured for 100% of their actual loss, and they received the insurance settlement. The Weasleys had adjusted gross income, before considering the casualty item, of $50,000. Pertinent data with respect to the residence follows: What is the Weasleys' allowable casualty loss deduction