Determine the tax consequences to Euclid from the following independent events. Round the per share answer to the nearest cent. In your computations, do not round intermediate division. Round all of your other answers to the nearest dollar. a. Euclid bought 500 shares of common stock five years ago for $50,000. This year, Euclid receives 20 shares of common stock as a nontaxable stock dividend As a result of the stock dividend, Euclid's per share basis is d that Eudlid recelved a nontaxable preferred stock dividend of 20 shares. The preferred stock has a fair market value of $5,000 and the common stock, on which the preferred is distributed, has a fair market value of $75,000, After the receipt of the stock dividend, the basis of the common stock is o x and the basis of the preferred is Historically, stock dividends were excluded from income on the theory that the ownership interest of the shareholder was unchanged as a 305) taxing stock dividends under certain circumstances