Tray is a carpenter who owns his own furniture manufacturing business. During the Although he could not doan ils fail market value after the casualties, Tray decided current year, a tomado (a federaly declared disaster damaged several pieces of top rather than relac Equipment Before considering any deductions equipment and destroyed his delivery truck and is persona automobile, which he because of these culties Trays AG is $50.000 otien kept in the workshop garage. The asset descriptions and related values are as follows Requirement Click the icon to view the description and values What deductions may Tray take relatng to these losses? First complain the first portion of the analysis to determine the nel business casually los deduction Tray may take in the following step determine the personal casually los deduction Tray may take relating to the tornado (Ervir a loss with a minus signor parentheses Cormicheal input fields Enter a for any rero balance Cost to Adjusted Insurance Casualty Gain Asset FMV Before FMV Aher Repair Replace Proceeds (LO) Equipment A 3 123005 5,000 $ 3,100 3 &500 5 4.600 Equipment 9800 1.500 7,000 Equipment Not Available Not Available 14 000 15,700 11500 Delivery Truck 22.000 0 37 000 21.500 18 600 Enter any number in the edit fields and then continue to the next question 17 9 200 Equipment 0 9.000 1.300 7.600 Equipment Not Avalable Not Available 14 000 15,700 11,500 Delivery Truck 22,000 0 37 000 21.500 18.600 Net business casualty loss deduction Now deamine the personal casually loss coduction Tray may take relating to the tomado Cost to Adjusted Insurance Casualty Gain Asser FMV Before FMV After Repair Replace Basis Proceeds (Loss) Automobile 14.000 0 11 000 24,000 11.000 Enter any number in the edit Reds and then continue to the next