In February 2014,Amelia's Home,which Originally Cost $150,000,is Damaged by a Windstorm.Amelia

question 79

Multiple Choice

In February 2014,Amelia's home,which originally cost $150,000,is damaged by a windstorm.Amelia had refinanced the home shortly before the storm,and it was appraised at $200,000.After the storm,the home appraised at $120,000.Amelia has received no insurance reimbursement by December 31,but expects to recover 90 percent of the loss.In the subsequent year,the insurance company pays Amelia $50,000.Amelia's AGI is $85,000 in 2014,and her 2015 AGI is $80,000.Amelia suffers no other casualty losses in either year.Amelia may deduct

• A)$7,900 in 2014.
• B)$22,000 in 2015.
• C)$13,900 in 2015.
• D)$14,000 in 2015.

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Definitions:

Value Stream Mapping

A lean management tool for analyzing the flow of materials and information currently required to bring a product or service to a consumer.

Time Function Mapping

A visual representation technique used in process improvement to analyze the flow of information or material through a process over time.

Supply Chain

The network of organizations involved in producing, delivering, and selling goods and services, from the acquisition of raw materials to the final consumer.

Crossover Point

The point at which two different options have equal costs or benefits, influencing a change in decision.