SON TRU Moodle English (en) RSITY On June 30, 20x1, the Shareholders' Equity of Gogol Inc. is as follows: Common Stock (56,000 Shares Outstanding) Retained Earnings Total Shareholders' Equity $600,000 700,000 $1,300,000 On this date, the Company declares a 14 percent stock dividend. This dividend is not designated as eligible. At this time the shares are trading at $ 27 per share. The company increases the PUC by the fair market value of the new shares issued. Frederick Gray is holding 935 of the Gogol shares which he acquired several years ago at a cost of $17 per share. What is the total fair market value of the new shares that will be issued to Frederick? (Round to whole dollars)