Question 4 1 pts In June, Catherine receives stock worth $12,000 as a graduation present from her grandfather. In November, she receives an $800 cash dividend on the stock. Catherine must include the $800 dividend in her gross income but exclude the $12,000 value of the stock received. Which of the construct(s) explain(s) this treatment? Capital recovery concept II All-inclusive income concept III Constructive receipt doctrine Legislative grace concept I. IV. Statements I and III are correct