Bonita Corporation owned 16000 shares of Carla Vista Corporation. These shares were purchased in 2017 for $136000. On November 15, 2021, Bonita declared a property dividend of one share of Carla Vista for every ten shares of Bonita held by a stockholder. On that date, when the market price of Carla Vista was $30 per share, there were 136000 shares of Bonita outstanding. What gain and net reduction in retained earnings would result from this property dividend?