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| On January 5, 2012, Norman Harris purchased for $6,000, 100 shares of Campbell Corporation common stock. On July 8, 2012, he received a nontaxable stock dividend of 10 shares of Campbell Corporation $100 par value preferred stock. On that date, the market values per share of the common and preferred stock were $75 and $150, respectively. Harris’ tax basis for the common stock after the receipt of the nontaxable preferred stock dividend is A. $2,000 B. $5,000 C. $6,000 D. $4,500 |