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Boats and Bait has 63,000 shares outstanding that sell for a price of $59 per share. The stock has a par value of $3 per

Boats and Bait has 63,000 shares outstanding that sell for a price of $59 per share. The stock has a par value of $3 per share. The companys balance sheet shows capital surplus of 110,000 and retained earnings of $150,000. if the company declares a stock dividend of 17.5 percent, what is the new common stock value on the balance sheet?

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