In 2019, Kevin purchased 5,000 shares of Purple Corporation stock at $6 per share. In 2021, he receives a 5% preferred stock dividend. At the time of the stock dividend, the common stock of Purple Corporation has a fair market value of $9 and the preferred stock has a fair market value of $12 per share.

Part 1: What is Kevins per share basis in the Purple Corporation common stock?

Part 2: What is Kevin's per share basis in the Purple Corporation preferred stock?

Part 3: How much taxable income does Kevin have as a result of the stock dividend?