Lemon Company is authorized to issue 1,250,000 shares of $20 par value common stock. By November 15, 2016, the company had issued 60,000 shares at $48 per share. On November 15, 2016, the company declared a 50% stock dividend when the market price was $60 per share. What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend? Select one: A. $2,500,000 B. $1,500,000 C. $1,800,000 D. $ 600,000