A corporation declared and issued a 10% stock dividend on October 1. The following information was available immediately prior to the dividend:

Retained earnings	$	830,000
Shares issued and outstanding		68,000
Market value per share	$	23
Par value per share	$	5

The amount that contributed capital will increase (decrease) as a result of recording this stock dividend is:

Multiple Choice

$34,000.

$156,400.

$(156,400).

$(34,000).

$0.