In 2019, the Rinaldis’ vacation cottage was severely damaged by an earthquake in a location that was a presidentially declared disaster area. They had AGI of $110,000 in 2019. Following is information related to the cottage:

Cost basis...................................................$95,000

FMV before casualty.................................135,000

FMV after casualty.......................................20,000

The Rinaldis had insurance and received an $80,000 insurance settlement. What is the amount of allowable casualty loss deduction for the Rinaldis in 2019before the AGI and event limitation?

a. $ 3,900

b. $14,900

c. $15,000

d. $45,000