On February 4, 2017, Jonathon Cash bought 1,000 shares of Country Corporation stock for $6,600. On May 12, 2020, Jonathon sold all 1,000 shares of his Country Corporation stock for $5,300. After reading an article about a new product the company just released, he decided to buy 1,000 more shares of Country stock on June 3, 2020, for $3,400. What is Jonathon's recognized loss on his May sale of the Country stock, and what is his basis in the 1,000 shares he purchased in June? Deductible loss Basis of new shares