El Toro Corporation declared a common stock dividend to all shareholders of record on June 30, 20X3. Shareholders will receive 1 share of El Toro stock for each 2 shares of stock they already own. Raoul owns 300 shares of El Toro stock with a tax basis of $60 per share. The fair market value of the El Toro stock was $100 per share on June 30, 20X3. What are the tax consequences of the stock dividend to Raoul? $0 dividend income and a tax basis in the new stock of $100 per share $0 dividend income and a tax basis in the new stock of $60 per share $0 dividend income and a tax basis in the new stock of $40 per share $15,000 dividend and a tax basis in the new stock of $100 per share