Kelsey owns 100 shares of Bristol Corporation common stock which was purchased on March 20, 2000, for $30,000. On November 8 of the current year, she receives a distribution of 100 stock rights. Each stock right has a $15 FMV and the FMV of the Bristol common stock is $80 per share. With each stock right, she may acquire one share of Bristol common stock for $90. Read the requirements. Requirement a. How much gross Income must Kelsey recognize? (Enter a "0" for a zero amount.) Kelsey must recognize of gross income. Requirement b. What is the basis of each stock right received? (Do not found intermediary calculations. Only round the amounts you input in the cells to the nearest dollar. Enter amounts as totals, not amounts per share.) First, calculate the total basis, we will calculate the basis of each stock in the next step Basis of rights The basis of each stock right received is Requirement c. If she sells the 100 stock rights for $9,600, what is her gain? (Use parentheses or a minus sign to show a loss.) Stock rights Less: Realized gain (los) Requirement d. If she exercises the 100 stock rights on December 8, what is the basis of the 100 shares she receives and when does the holding period for those shares start? The basis of the 100 shares she receives is $ The holding period should start on