Arturo, a calendar year taxpayer, paid $28,000 in medical expenses and sustained a $33,600 casualty loss in 2020 (the loss occurred in a Federally declared disaster area). He expects $19,600 of the medical expenses and $23,520 of the casualty loss to be reimbursed by insurance companies in 2021. How much can Arturo include in determining his itemized deductions for 2020

Jaguar has full manufacturing costs of their s-type sedan of £22,803. they sell the s-type in the uk with a 20% margin for a price of £27,363. today these cars are available in the us for $55,000 which is the uk price multiplied by the current exchange rate of $2.01/£. jaguar has committed to keeping the us price at $55,000 for the next six months. if the uk pound appreciates against the usd to an exchange rate of $2.15/£, and jaguar has not hedged against currency changes, what is the amount the company will receive in pounds at the new exchange rate?