Required information Problem 18-51 (LO 18-3) (Static) [The following information applies to the questions displayed below.] Badger Corporation declared a stock distribution to all shareholders of...

Extracted text: Required information Problem 18-51 (LO 18-3) (Static) [The following information applies to the questions displayed below.] Badger Corporation declared a stock distribution to all shareholders of record on March 25 of this year. Shareholders will receive one share of Badger stock for each 10 shares of stock they already own. Madison Cheesehead owns 1,000 shares of Badger stock with a tax basis of $100 per share. The fair market value of the Badger stock was $110 per share on March 25 of this year. (Leave no answer blank. Enter zero if applicable.) Problem 18-51 Part a (Static) a. What amount of taxable dividend income, if any, does Madison recognize this year? Taxable dividend income