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 330 shares of E Toro stock with a tax basis of S72 per share. The fair market value of the El Toro stock was $112 per share on June 30, 20X3. What are the tax consequences of the stock dividend to Raoul? Multiple Choice $18,480 dividend and a tax basis in the new stock of $112 per share S0 dividend income and a tax basis in the new stock of $112 per share. sO dividend income and a tax basis in the new stock of $48 per share. $O dlvidend income and a tax basis in the new stock of $72 per share