Kenneth Kruise purchased a personal residence for $66,000. It had a fair market value of $80,000 in the current year when it was damaged by a fire. The fair market value after the fire was $40,000 and insurance proceeds totaled $15,000. What is the net amount of casualty loss he can claim if his adjusted gross income is $20,000? a. $11,000 b. $24,900 c. $8,500 d. $22,900 e. None of these