On January 1, Year 1, Carrot, an Individual, paid $19,000 for 5 percent of the stock in Root Corp., an S corporation. In November, he loaned $8,600 to Root Corp. in return for a promissory note. Root Corp. generated a $768,000 operating loss in Year 1. Required: a. How much of his share of the loss can Carrot deduct on his Year 1 return? b. Compute Carrot's basis in his Root Corp, stock and his Root Corp. note at the end of Year 1 Complete this question by entering your answers in the tabs below. Required A Required How much of his share of the loss can Carrot deduct on his Year 1 return? Deduction hequr Required > Required A Required B Compute Carrot's basis in his Root Corp. stock and his Root Corp. note at the end of Year 1. Root Stock Root Note Adjusted basis