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Consider this independent situation. DEF Inc has 1 million common shares issued and outstanding on April 15. The company declares a 3% stock dividend on

Consider this independent situation. DEF Inc has 1 million common shares issued and outstanding on April 15. The company declares a 3% stock dividend on April 16, when the market value of the stock was $20 per share. Determine the number of new shares distributed and the total dollar amount of the share distribution for this stock dividend

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