Floral Corporation has a single class of common stock outstanding. Tara owns 1,000 shares, which she purchased five years ago for $170,000. Floral declares a stock dividend payable in 8% preferred stock having a $230 par value. Each shareholder receives one share of preferred stock for ten shares of common stock. On the distribution date-January 2 of the current year-the common stock was worth $437 per share, and the preferred stock was worth $230 per share. On April 1 of the current year, Tara sells half of her preferred stock for $10,800. Read the requirements. (Complete all input fields. Enter a 0 where appropriate.) Requirement a. How much income must Tara recognize when she receives the stock dividend? Income Tara will recognize when she receives the stock dividend = Requirement b. How much gain or loss must Tara recognize when she sells the preferred stock? (Ignore the implications of Sec. 306.) (Round to the nearest cent. Use parentheses or a minus sign for a loss.) Gain (loss) Tara will recognize when she sells the preferred stock = Requirement c. What is Tara's basis in her remaining common and preferred shares after the sale? When does her holding period for the preferred shares begin? (Do not round interim calculations and round your final answer to the nearest cent.) Tara's basis in her common shares = Tara's basis in her remaining preferred shares = Tara's holding period for the preferred shares