Novak Corporation owned 41000 shares of Blossom Corporation. These shares were purchased in 2022 for $369000. On November 15, 2026, Novak declared a property dividend of one share of Blossom for every ten shares of Novak held by a stockholder. On that date, when the market price of Blossom was $28 per share, there were 369000 shares of Novak outstanding. What gain and net reduction in retained earnings would result from this property dividend