Johnalynn enters into the following transactions with regard to McKethan Corporation common and preferred stock: Date Transaction Amount 2/3/06 Purchases 500 common shares $15,500 9/8/17 Purchases 150 common shares 4,700 9/20/17 Sells original 500 common shares 9,500 9/25/17 Purchases 50 preferred shares 2,000 9/27/17 Purchases 150 common shares 3,800 12/1/17 Purchases 100 common shares 3,000 What is the loss on the sale of the 500 shares and how much of that loss can be recognized (i.e. reported on your return (Explain your answer)? What is the "new" basis of each subsequent purchase of stock? Edit Format Table 12pt Paragraph BIU ATV