ABC Corp. has shares of stock outstanding with a par value of $1 per share and a market value of $25 per share. The balance sheet shows $32,500 in the capital in excess of par account, $12,000 in the common stock account, and $68,700 in the retained earnings account. The firm just announced a stock dividend of 10 percent. What will be the balance in the retained earnings account after the dividend?

		$38,700
		$48,300
		$39,900
		$67,520
		$59,120