Tim loaned a friend $4,000 to buy a used car. In the current year, Tim’s friend declares bankruptcy and the debt is considered totally worthless (or a bad debt(. What amount may Tim deduct on his individual income tax return for the current year as a result of the worthless debt, assuming he has no other capital gains or losses for the year? a. $4,000 ordinary loss (OL) b. $4,000 short-term capital loss (STCL) c. $2,000 short-term capital loss (STCL) d. $3,000 ordinary loss (OL) e. $3,000 short-term capital loss (STCL)