Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $7,000 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $5,500. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,500. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021