Bilal Corporation owned 10,000 shares of Rakan Corporation. These shares were purchased in 2017 for 90,000. On November 20,2019 , Bilal declared a property dividend of one share of Rakan for every ten shares of Bilal held by a shareholder. On that date, when the market price of Rakan was 16 per share, there were 90,000 shares of Bilal outstanding. What is the net reduction in retained earnings that would result from this property dividend