McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver

Exercise 59

{Research}Arden purchased 300 shares of AMC common stock several years ago for $1,500.On April 30, Arden sold the shares of AMC common for $500 and then purchased 250 shares of AMC preferred stock two days later for $700.The AMC preferred stock is not convertible into AMC common stock.What is Arden's deductible loss from the sale of the 300 shares of AMC common stock