A company with 81,808 authorized shares of $5 par common stock issued 38,767 shares at $15 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $34 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

Select the correct answer.

$3,877

$26,362

$22,485

$55,629