Required information Problem 7-53 (LO 7-2) (Algo) [The following information applies to the questions displayed below.] Christina, who is single, purchased 340 shares of Apple Incorporated stock several years ago for $17,000. During her year- end tax planning, she decided to sell 170 shares of Apple for $7,650 on December 30. However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the 170 shares (cost of $7,990) of Apple back before prices skyrocket. (Leave no answers blank. Enter zero if applicable.) Problem 7-53 Part-b (Algo) b. Assume the same facts, except that Christina repurchased only 85 shares for $3,995. What is Christina's deductible loss on the sale of 170 shares? What is her basis in the 85 new shares? Deductible loss Basis $ 0 $ 47