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Assume a firm has declared a 20% stock dividend on its 1 million shares of outstanding $5 par value common stock. If the market value

Assume a firm has declared a 20% stock dividend on its 1 million shares of outstanding $5 par value common stock. If the market value of the stock at the date of the stock dividend is $14 per share and the retained earnings account balance before the stock dividend was $7,600,000, what is the retained earnings account balance after the stock dividend?

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