CBA Inc. has 200,000 shares outstanding with a $5.5 par value. The shares were issued for $15.5. The stock is currently selling for $27.5. CBA has $6,000,000 in retained earnings and has declared a stock dividend that will increase the number of outstanding shares by 6.50%. What will be the "capital in excess of par account" after the stock dividend?

Multiple Choice

• $4,828,500

• $2,286,000

• $8,286,000