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in anticipation of a hurricane, charles and marie boarded up their business to protect it. when they file their federal income taxes, they would treat

in anticipation of a hurricane, charles and marie boarded up their business to protect it. when they file their federal income taxes, they would treat such protection costs as a(n):

  • deductible business expense.
  • deductible casualty loss.
  • nondeductible casualty loss.
  • increase in the property's basis.

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