CS 11. Jim receives a nontaxable stock dividend of 30 shares of preferred stock on his Juno Corporation common stock. Jim purchased the 200 shares of common stock two years ago for $12,000. On the date of the preferred stock distribution, the FMV of the common stock was $75 per share and the FMV of the preferred stock was $100 per share. What is the basis of the preferred stock? a. $2,000 b. $3,000 c. $1,565 d. $ 0 e. None of the answers provided is correct. FMV