A calendar year S corporation had dividend income of $10,000 and a net ordinary loss of $60,000 for the current year. At the beginning of the year, Z, a 45 percent shareholder, has a basis in the stock of $15,000 and a note receivable from the corporation of $8,000. Zs only other income is a substantial salary from an unrelated business. Z materially participates in the S corporation business.

Calculate Z's deductible net ordinary loss from the S corporation for the current year. Show the answer as a positive amount.