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A company with 100, 000 authorized shares of $4 par common stock issued 40, 000 shares at $8. Subsequently, the company declared a 5% stock

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A company with 100, 000 authorized shares of $4 par common stock issued 40, 000 shares at $8. Subsequently, the company declared a 5% stock dividend on a date when the market price was $ 11 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? a. $16, 000 b. $22 000 c.$8, 000 d.$8, 000

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