A company with 114,000 authorized shares of $7 par common stock issued 43,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $35 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a. $30,100

b. $6,020

c. $24,080

d. $79,800