Problem 7=36 (LD, 3,4,8) Olaf Ives in the state of Minnesota. In May 2022, a tornado hit the area and damaged his home and automobile. Applicable information is as fellows: Because of the extenaive damage causod by the pornado, the President designated the area a Federal disaster area Qiaf and his wife, Anne, always file a joint return. Their 2021 tax return shows AGt of $180,000 and taxable income of $145,000, In 2022 , their return shows Act of 5300,000 and taxable income (exclusive of the casualty ioss deduction) of $245,000. Assume the taxpayers are in the 22% tax bracket in 2021 and the 2495 tax bracket in 2022. Determine the amount of Claf and Annass loss and the year in which they should take the loss. Amojit of loss on isst vear's retim: Olaf and Anna should include the loss on the return, because the tax savings is greater