4. On September 3, 2020, Able, a single individual, purchased Code Section 1244 stock in Red Corporation from his friend Al for $ 60,000. On December 31,2020, the stock was worth $85,000. On August 15, 2021, Able was notified that the stock was worthless. How should Able report this item on his 2021 tax return? a. $ 85,000 capital loss. b. $ 85,000 ordinary loss. C. $ 50,000 ordinary loss and $ 35,000 capital loss. d. $ 60,000 ordinary loss. None of these. e