SQL Server reduce the size of an overdimensioned transaction log file

use master
go

SELECT name, log_reuse_wait_desc FROM sys.databases

USE Mydatabase
go

CHECKPOINT

DBCC SHRINKFILE (N'MESTBIDW_DEV_log' , 48000)
GO

DBCC SQLPERF(LOGSPACE) --Optional -- just to see how much space
DBCC LOGINFO --Optional