In the Current Year, Marcus Reports the Following Casualty Gains

In the current year, Marcus reports the following casualty gains and losses on personal- use property. Assets X and Y are destroyed in the first casualty while Z is destroyed in a second casualty.Both casualties were the result of federal disasters. As a result of these losses and insurance recoveries, Marcus must report

A) a long- term capital gain of $5,000 on asset X; a short- term capital loss of $900 on asset Y; and a short- term capital loss of $200 on asset Z.
B) a long- term capital gain of $5,000 on asset X; a short- term capital loss of $900 on asset Y; and a short- term capital loss of $300 on asset Z.
C) a long- term gain of $4,900 on asset X; a short- term capital loss of $900 on asset Y; and a short- term capital loss of $200 on asset Z.
D) a net gain of $3,700.