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On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value

On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $39 per share on February 5 before the stock dividend. The stocks market value is $35 per share on February 28.

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