Question: How would the answer to (a) change if, also in Year Three, T lost a vacation cabin in a Federally declared disaster? Assume T paid

How would the answer to (a) change if, also in Year Three, T lost a vacation cabin in a Federally declared disaster? Assume T paid $200,000 for the cabin but that it was worth $300,000 at the time of the loss. Also assume T received $300,000 in insurance proceeds from the cabin loss.

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