24. Mr. and Mrs. Marcum live in Southern California in an area devastated by wildfires that...

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24. Mr. and Mrs. Marcum live in Southern California in an area devastated by wildfires that the president designated a federally declared disaster. Because of fire damage, the Maroums had to replace the roof of their home at a cost of $55,000. Their homeowners insurance reimbursed them for only $32,500 of the cost. The Marcums' $22,500 unreimbursed loss was their only casualty loss this year. Compute their deductible casualty loss if their AGT is a $161,000 $380,000. 25. Refer to the preceding problem. How would your answers change if the fire that damaged the Mareums' roof was attributable to faulty electrical wiring in their antie 26. Mr. Monk is a self-employed computer consultant who earns more than $100,000 each year. He also is an enthusiastic artist. This year, he spent $4,900 on oil paints, canvasses, supplies, and lessons at a local studio. Mr. Monk made several trips to the National Gallery in Washington, DC, to attend lectures on painting technique. His total travel costs were $3,350. Compute the 24. Mr. and Mrs. Marcum live in Southern California in an area devastated by wildfires that the president designated a federally declared disaster. Because of fire damage, the Maroums had to replace the roof of their home at a cost of $55,000. Their homeowners insurance reimbursed them for only $32,500 of the cost. The Marcums' $22,500 unreimbursed loss was their only casualty loss this year. Compute their deductible casualty loss if their AGT is a $161,000 $380,000. 25. Refer to the preceding problem. How would your answers change if the fire that damaged the Mareums' roof was attributable to faulty electrical wiring in their antie 26. Mr. Monk is a self-employed computer consultant who earns more than $100,000 each year. He also is an enthusiastic artist. This year, he spent $4,900 on oil paints, canvasses, supplies, and lessons at a local studio. Mr. Monk made several trips to the National Gallery in Washington, DC, to attend lectures on painting technique. His total travel costs were $3,350. Compute the