Fuzzy Muffin Manufacturing Company is one of Happy Monkey's leading competitors. Fuzzy Muffin Manufacturing Company's market intelligence research team shares Happy Monkey's plans of announcing a stock split, influencing the distribution policy makers. Consequently, executives at Fuzzy Muffin decide to offer stock dividends to its shareholders. A stock dividend is another way of keeping the stock price from going too high. Fuzzy Muffin currently has 1,100,000 shares of common stock outstanding. If the firm pays a 6% stock dividend, how many shares will the firm issue to its existing shareholders? 72,600 shares 52,800 shares 66,000 shares 62,700 shares