Henry owned 50 shares of IBM stock, which he had purchased in 2017 at a total cost of $40,000. Henry sold all 50 shares on November 25, 2020 for $38,000, incurring a loss on the sale of $2,000. On December 5, 2020, he repurchased the 50 shares of IBM stock at a total cost of $50,000. Henrys tax basis in the 50 shares he purchased on December 5, 2020 is $