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Lauer Company declared a property dividend of 23, 000 shares of $1 par Savannah Company common stock. The Savannah stock was purchased for $4 per

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Lauer Company declared a property dividend of 23, 000 shares of $1 par Savannah Company common stock. The Savannah stock was purchased for $4 per share. Market value was $10 per share on the declaration date and $11 per share on the distribution date. What is the amount of the dividend? $92, 000. $230, 000. $322, 000. $253, 000

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