Lucid Company declared a property dividend of 27,000 shares of its investment in $1 par Polk Company common stock. The Polk stock was purchased for $4 per share. The fair value of Polks stock was $9 per share on the declaration date of the property dividend and $10 per share on the distribution date. What is the amount of the dividend?

Multiple Choice

• $243,000.

• $351,000.

• $270,000.

• $108,000.