In Year 1, Investor Co. purchased 1,000 shares of Investee Co. stock for $20,000. These shares were properly accounted for as available for sale. At December 31, Year 1, the Investee Co.'s shares were being traded at $18. On February 1, Year 2, Investor sold 500 shares of Investee's stock for $17 per share. In the financial statements for its fiscal year ended December 31, Year 2, Investor should report a realized loss on disposal of the Investee Co. shares equal to:
a) $3,000
b) $1,500
c) $1,000
d) $8,500