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Problem 14-41 (Lo. 3) Donna owns 800 shares of common stock in Macaw...

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Problem 14-41 (Lo. 3) Donna owns 800 shares of common stock in Macaw Corporation (adjusted basis of $40,000). She receives a 5% stock dividend when the stock is selling for $60 per share. If an amount is zero, enter "0". If required, round your answer to the nearest cent. a. How much gross income must Donna recognize because of the stock dividend? Check My Work When a taxpayer acquires multiple assets in a lump-sum purchase, the total cost must be allocated among the individual assets. b. What is Donna's per-share basis for her 840 shares of stock? Her total basis is 60 X and her per share basis is 60 X

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