Joan Majors sold 1,580 shares of publicly traded MMY stock (tax basis $49,240) for $40,000 cash on February 13. They paid $43,000 cash to purchase 1,600 MMY shares on March 2 of the same year. Compute Joan's loss recognized on the February 13 sale and determine their tax basis in the 1,600 shares. Group of answer choices No loss recognized; $40,000 basis $9,240 loss recognized; $43,000 basis No loss recognized; $52,240 basis No loss recognized; $49,240 basis