The difference between the adjusted losses incurred reported in a property-casualty insurer's NAIC Annual Statement and the amount reported in its federal income tax return is due to which one of the following? Available answer options Select only one option A The deduction for reinsurance recovered during the year required on the annual statement B The deduction for salvage recovered during the year required on the annual statement C Present value discounts applied to loss reserves for income tax purposes D The exclusion of loss adjustment expenses for income tax purposes