Jay Nassau owns 2,050 shares of Red Wolf Corporation common stock. Jay purchased the 2,050 shares on April 17, 2011, for $20,500. On December 8, 2018, Jay sells 1,400 shares for $7,280. On January 2, 2019, Jay buys 700 shares of Red Wolf Corporation common stock for $3,500 and 25 shares of Red Wolf Corporation preferred stock for $2,000. The preferred stock is nonvoting, nonconvertible. Read the requirements. Requirement a. What is Jay's realized and recognized loss on the December 8 sale of stock? (Do not round intermediary calculations. Only round the amount you input in the input field to the nearest whole dollar.) Jay has a realized loss of Jay has a recognized loss of $ 6,720 $ 3,360 Requirement b. What is his basis and the holding periods of the shares purchased in 2011 and in 2019? Basis Holding period begins 700 shares of Red Wolf common stock Remaining 650 shares of Red Wolf common stock 25 shares of Red Wolf preferred stock