Draper Company is authorized to issue 600,000 shares of $5 par value common stock. By March 15, 2011, the company had issued 180,000 shares at $17 per share. On March 15, 2011, the company declared a 10% stock dividend when the market price was $20 per share. What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend? Answer A. $ 300,000 B. $ 90,000 C. $ 360,000 D. $1,200,000 E. None of the above