Gilligan Corporation was established on February 15, Year 1 Gilligan is authorized to issue 500,000 shares of $6 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances: Common stock, $6 par, 500,000 shares authorized 65,000 shares issued and outstanding $ 390,000 Pald-in capital in excess of par - Common 520,000 $ 910,000 Retained earnings 1,460,000 Total Stockholders' Equity $ 2,370,000 On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $24 per share. What is the dollar value of the stock dividend issued by Gilligan Corporation? Multiple Choice $52.000 $19.500