Lee is a college professor with an adjusted gross income of $32,000. Lee has a lot of bad luck this year. First, a tornado blows the roof off his house, causing $4,900 in damage. His insurance company reimburses him only $1,200 for the roof damage. Later in the year, he is out at a local pub when his $625 car stereo is stolen. His insurance company does not pay anything for the stereo because it is worth only $400 at the time and Lee’s policy does not cover losses of less than $500. What is Lee’s allowable casualty and theft loss for the year?