Jerome, an individual, owns 80% of the stock of X Corporation. He acquired the stock in 2018 for $500,000. On July 1, 2021, he receives a report that X Corporation is bankrupt. X has assets with a value of $50,000, and owes creditors $200,000. A. Can Jerome claim a loss on his investment in 2021? B. If so, is the loss ordinary or capital? C. If capital, is it a short-term or long-term capital loss? Cite authority for your