Renella Corporation, a calendar year S Corporation, has an Operating Loss of $80,000 and a Long-Term Capital Loss of $20,000 for the year of 2023. Norman, an individual, owns forty percent (40%) of the stock of Renella Corporation and has a $20,000 basis in her stock at the beginning of the year of 2023. What amount of the Operating Loss can Norman deduct on her personal Federal Income Tax Return (Form 1040) for the year of 2023? $20,000. $16,000. $24,000. $32,000