Mrs. Tinker paid $78,400 to purchase 15,000 shares of HiFli common stock in 2011. This year, HiFli declared bankruptcy and announced that its stock has no value. What is the tax consequence to Mrs. Tinker of this bad news? Multiple Choice $78,400 ordinary abandonment loss $78,400 capital loss No loss recognition until Mrs. Tinker actually disposes of the stock None of these choices are correct