Michael purchased 100 shares in Company XYZ for $15,000 in 2019. The company was not performing well and on November 15, 2021 Michael sold his 100 shares for $8,000. After reconsidering, Michael thought the company would improve going forward so he purchased another 100 shares on December 5, 2021 for $7,500. Required: a. Calculate the capital loss reported on Michaels Schedule D related to the November 15th sale. b. What is the tax basis in the 100 shares purchased on December 5, 2021.