Question - Arden purchased 630 shares of AMC common stock several years ago for $2,394. On April 30, Arden sold the shares of AMC common for $798 and then purchased 580 shares of AMC preferred stock two days later for $928. The AMC preferred stock is not convertible into AMC common stock.
What is Arden's deductible loss from the sale of the 630 shares of AMC common stock?