In the current year, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $267,500. The casualty was attributable to a Federally declared disaster. How much of the casualty loss will be deductible by Wilson under the following circumstances?

a. Wilson is an individual proprietor and has AGI of $668,750. The casualty loss was a personal loss, and the insurance recovered was $147,125 before any limitations.

Wilson can claim a casualty loss as an itemized deduction of

b. Assume Wilson is a corporation, and the insurance recovered was $147,125 before any limitations.

Wilson can deduct