Davidson Company has 10,000,000 common shares issued and 570,000 shares of treasury stock. The stock's par value is $2 per share and its current market price is $32 per share. Which of the followingis correctwhen a30% stock dividend is declared and distributed?

Group of answer choices

Retained earnings will decrease by $80.000 million.

Retained earnings will decrease by $5.000 million.

Retained earnings will decrease by $75.440 million.

Retained earnings will decrease by $5.658 million.