Basis in Securities (LO. 8) On September 5 of last year, Edwina purchases 100 shares of Atlantis Corporation common stock for $5,000. In December of the current year, she receives a nontaxable stock dividend of 10 shares of preferred stock from Atlantis. At the date of the dividend, the fair market value of the preferred stock is $20 per share, and the fair market value of the common stock is $30 per share Note: Do not round any divisions. Round other computations to the nearest dollar Refer to the Allocation Formula to answer the following questions, The basis of the preferred shares owned by Edwina is $4,687.50 X and the basis of the common shares owned by Edwina is s 312.50 X If the dividend shares are of a different ass of stock, there is an location Previous Nout