Boats and Bait has 60,000 shares outstanding that sell for a price of $56 per share. The stock has a par value of $3 per share. The company's balance sheet shows capital surplus of $95,000 and retained earnings of $135,000. If the company declares a stock dividend of 10 percent, what is the new common stock value on the balance sheet?

$104,500

$451,000

$198,000

$253,000

$302,500