Following is the stockholders' equity section of the balance sheet of the Bob Company:

Paid-in capital:

Preferred stock, $100 par value, 20,000 shares authorized,

4,000 shares issued $400,000

Paid-in capital in excess of par value-preferred 16,000

Common stock, $5 par value, 100,000 shares authorized,

30,000 shares issued 150,000

Paid-in capital in excess of par value-common 105,000

Total paid-in capital $671,000

Retained earnings 267,000

Total stockholders' equity $938,000

The preferred stock is currently selling for $102.25 per share, and the common stock is currently selling for $11.50 per share.

The total paid-in capital after the distribution of a 15% common stock dividend is: (Work must be shown)

A) $671,000

B) $172,500

C) $722,750

D) $901,000