On December 28, 2020, Kramer sells 150 shares of Lavender, Inc. stock for $77,000. He bought the stock two years earlier for $89,000. Realizing that he should not have sold the stock, on January 10, 2021 he purchased all 150 shares of Lavender, Inc. stock for $80,000. What is his recognized loss in 2020 and basis in the new shares that he purchased in 20217 $12,000 recognized loss and basis of $80,000 No recognized loss and basis in new shares of $92,000 No recognized loss and basis in new shares of $80,000 No recognized loss and basis in new shares of $89,000