Exercise 7-23 (Algorithmic) (LO. 2) On May 9, 2019, Calvin acquired 900 shares of stock in Hobbes Corporation, a new startup company, for $77,400. Calvin acquired the stock directly from Hobbes, and it is classified as & 1244 stock (at the time Calvin acquired his stock, the corporation had $900,000 of paid-in capital). On January 15, 2021, Calvin sold all of his Hobbes stock for $7,740. Assume that Calvin is single. Assuming that Calvin is single, determine his tax consequences as a result of this sale. If an amount is zero, enter"0". As a result of the sale, Calvin has: Ordinary loss: $ Short-term capital loss: Long-term capital loss: G