George bought 100 shares of stock of Slam Corporation on the NY Stock Exchange paying $1 per share on December 20, 2021 On April 17, 2022, the corporation is declared bankrupt and the shares are deemed worthless. What is the amount and character of George/s recognized loss as a result of the bankruptcy?

a. $100 short-term capital loss.

b. $100 long-term capital loss.

c. $100 ordinary loss.

d. No gain or loss until the stock is sold.