$20.$ Divide Company owned $20,000$ shares of Queen Company that were purchased in $2016$ for $$500,000.$ On May $1,2018,$ Divide declared a property dividend of one share of Queen for every $10$ shares of Divide stock. On that date, there were $50,000$ shares of Divide stock outstanding. The market value of the Queen stock was $$30$ per share on the date of declaration and $$32$ per share on the date of distribution. By how much is retained earnings reduced by the property dividend? A$.$ $$160,000$ B$.$ $$150,000$O C$.$ $$300,000$O D$.$ $$0$