Orange, Inc., a calendar year corporation in Clemson, South Carolina, elects S corporation status for 2020. The company generated a $313,200 NOL in 2019 and another NOL of $187,920 in 2020. Orange stock always is owned by the same four shareholders, each owning 25% of the stock. Pete, one of the shareholders, holds a $25,056 basis in this Orange stock at the beginning of 2020. Complete the statement below that outlines the Federal income tax issues that Pete faces. The 2019 C corporation NOL of $313,200 does not carry forward into the corporation year. Therefore, the deductible loss in 2020 by Pete is $ with a $ carryover