Crane Company has had $4$ years of net income. Due to this success, the market price of its $300,000$ shares of $$3$ par value

common stock has increased from $$10$ per share to $$50.$ During this period, paid$-$in capital remained the same at $$2,200,000.$

Retained earnings increased from $$1,700,000$ to $$11,000,000.$ President E$.$ Rife is considering either a $12\%$ stock dividend or

a $2-$for$-1$ stock split.