51. Badger Corporation declared a stock distribution to all shareholders of record on March 25 of this year. Shareholders will receive one share of Badger stock for each 10 shares of stock they already own. Madison owns 1,000 shares of Badger stock with a tax basis of $100 per share. The fair market value of the Badger stock was $110 per share on March 25 of this year. a) What amount of taxable dividend income, if any, does Madison recognize this year? b) What is the tax basis in Madison's new and existing stock in Badger Corporation, assuming the distribution is nontaxable? c) How would you answer parts (a) and (b) if Badger offered shareholders a choice between receiving one additional share of Badger stock for every 10 Badger shares held or receiving $120 cash in lieu of an additional share of stock