Cole owns 2,000 shares of stock in Chase Corporation, worth $75 per share. The 2,000 shares were purchased in 2015 for $48 per share. In 2019, the corporation issues a 10% stock dividend to all common shareholders with an option of receiving either the stock or the cash equivalent of $26,000. Cole selected the stock.

What is Coles gross income from the above? Explain you answer.