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The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.

Stockholders Equity (January 1) Common stock$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding$ 175,000Paid-in capital in excess of par value, common stock135,000Retained earnings340,000Total stockholders equity$ 650,000Stockholders Equity (December 31) Common stock$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury$ 207,000Paid-in capital in excess of par value, common stock179,800Retained earnings ($30,000 restricted by treasury stock)420,000 806,800Less cost of treasury stock(30,000)Total stockholders equity$ 776,800

The following transactions and events affected its equity during the year.

January 5Declared a $0.50 per share cash dividend, date of record January 10.March 20Purchased treasury stock for cash.April 5Declared a $0.50 per share cash dividend, date of record April 10.July 5Declared a $0.50 per share cash dividend, date of record July 10.July 31Declared a 20% stock dividend when the stocks market value was $12 per share.August 14Issued the stock dividend that was declared on July 31.October 5Declared a $0.50 per share cash dividend, date of record October 10.

3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?