PC:4-54 (Similar to) wuestion Help Linda owns all 100 shares of Nebula Corporation stock. Her stock basis is $70,000 On December 1 of the current year, Nebula distributes 50 shares of preferred stock to Linda in a nontxable distribution in the year of the distribution Nobula's total E&P $160,000, the preferred shares are worth $100,000, and the common shares are worth $400.000 Read the requirements Requirement a. What are the tax consequences to Linda and to Nebula if Linda sells her preferred stock to Bob for $239,000 on January 10 of the following year? In that year, Nebula's current E&P is $64,000 (in addition to the $160,000 balance from the prior year) Begin by computing the tax consequences to Linda Dividend Return of capital Capital gain