Benson Company is authorized to issue $1,000,000$ shares of $$40$ par value common stock. By November $15,$ the company had issued $50,000$ shares at $$50$ per share. On November $15,$ the company declared a $30\%$ stock dividend when the market price was $$52$ per share.

What amount is transferred from retained earnings to paid$-$in capital as a result of the stock dividend?

Select one:

A$.$ $$3,120,000$

B$.$ $$600,000$

C$.$ $$2,400,000$

D$.$ $$780,000$