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Nicole has a weekend home on Pecan Island that she purchased in 2013 for $250, 000. Recently, the home was appraised at $260, 000. After
Nicole has a weekend home on Pecan Island that she purchased in 2013 for $250, 000. Recently, the home was appraised at $260, 000. After the appraisal, a hurricane hit Pecan Island, severely damaging Nicole's home. An appraisal placed the value of the home at $140, 000 after the hurricane. Because of its prohibitive cost, Nicole had no hurricane insurance. Nicole's AGI was $150, 000. Nicole's deductible casualty loss is A) $0. B) $119, 900. C) $120, 000. D) $104, 900
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