At the beginning of 2020, Highliner Corporation had 2 million shares of $2 par value common stock outstanding and retained earnings of $20 million. During 2020, Highliner earned $14 million, declared a 6% stock dividend when the price of the stock was $20 per share, and paid a year-end cash dividend of $3.00 per share. (The cash dividend was declared after the stock dividend had been distributed.) At the end of 2020, what are the company's retained earnings?