Vine Corporation has a single class of common stock outstanding. Tanya owns 1,000 shares, which she purchased five years ago for $160,000. Vine declares a stock dividend payable in 8% preferred stock having a $50 par value. Each shareholder receives one share of preferred stock for ten shares of common stock. On the distribution date-December 16 of the current year-the common stock was worth $95 per share, and the preferred stock was worth $50 per share. On April 1 of the next year, Tanya sells half of her preferred stock for $11,000. Read the requirements. Requirements Requirement a. How much income must Tanya recognize a. How much income must Tanya recognize when she receives the stock dividend? Tanya will recognize in income when she red b. How much gain or loss must Tanya recognize when she sells the preferred stock? (Ignore the implications of Sec. 306.) c. What is Tanya's basis in her remaining common and preferred shares after the sale? When does her holding period for the preferred shares begin? (Complete all answer boxes. Enter a "0" where appropriate.) Print Done