Jim was in an auto accident this year.Jim paid $2,450 to repair his personal-use car after the accident and his insurance only reimbursed him $400.Jim bought his car several years ago for $1,500.What is the amount of casualty loss from this accident before Jim applies any casualty loss floor limitations?
A) $2,450.
B) $2,050.
C) $1,500.
D) $1,100.
E) None of the choices are correct.
Correct Answer:
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