On January 1, 2016, Leo paid $24,500 for 5 percent of the stock in BLS, an S corporation. In November, he loaned $10,300 to BLS in return for a promissory note. BLS generated a $830,000 operating loss in 2016. How much of his share of the loss can Leo deduct on his 2016 return? Compute Leos basis in his BLS stock and his BLS note at the end of 2016.