A company with 91,000 authorized shares of $4 par common stock issued 45,000 shares at $15. Subsequently, the company declared a 2% stock dividend on a date when the market price was $31 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. $3,600

b. $27,900

c. $24,300

d. $56,420