Hortense Had Adjusted Gross Income in 2011 of $140,000

Hortense had adjusted gross income in 2011 of $140,000.During the year,her personal yacht was almost completely destroyed in a boating accident.The yacht had: Hortense was partially insured for her loss and in 2011 she received a $70,000 insurance settlement.What is Hortense's allowable casualty loss deduction for 2011?

A) $17,000
B) $86,900
C) $16,900
D) $2,900
E) None of the above.