The Lightfoots, who live in Boise, Idaho had adjusted gross income of $160,000 in 2020. During the year, their principal residence was severely damaged by a house fire in a federally declared disaster area. The pertinent financial information is as follows: Cost basis = $ 134, eee Value before casualty $ 156,000 Value aftar casualty- $ 20,000 The Lightfoots had some insurance and in 2020 reached a settlement with the insurance company for $110,000 insurance settlement. What is their allowable casualty loss deduction for 20207 Murple Choice 57.500 523500 $36000 None of the