59. Ten years ago, Elaine paid $10 per share for 2,000 shares of Lazlo common stock. This year, Elaine learned that Lazlo is in bankruptcy and can pay only 40% of its outstanding debt. What are the tax consequences to Elaine of Lazlo's bankruptcy? A. $20,000 long-term capital loss B. $12,000 long-term capital loss C. $20,000 ordinary loss D. No gain or loss