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A company with 103,804 authorized shares of $8 par common stock issued 35,704 shares at $12 per share. Subsequently, the company declared a 2% stock

A company with 103,804 authorized shares of $8 par common stock issued 35,704 shares at $12 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $26 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

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