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CBA Inc. has 260,000 shares outstanding with a $5.5 par value. The shares were issued for $15.5. The stock is currently selling for $27.5. CBA has $7,000,000 in retained earnings and has declared a stock dividend that will increase the number of outstanding shares by 6.50%. What will be the "capital in excess of par account" after the stock dividend?

• $5,477,050

• $2,971,800

• $9,971,800

• $2,600,000