Stockholders$$ Equity $($January $1)$

Common stock$$$$5$ par value, $100,000$ shares authorized, $35,000$ shares issued and outstanding $ $175,000$

Paid$-$in capital in excess of par value, common stock $135,000$

Retained earnings $340,000$

Total stockholders$$ equity $ $650,000$

Stockholders$$ Equity $($December $31)$

Common stock$$$$5$ par value, $100,000$ shares authorized, $41,200$ shares issued, $4,000$ shares in treasury $ $206,000$

Paid$-$in capital in excess of par value, common stock $178,400$

Retained earnings $($$$60,000$ restricted by treasury stock$)420,000$

$804,400$

Less cost of treasury stock $(60,000)$

Total stockholders$$ equity $ $744,400$

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

January $5$ Declared a $$0\mathrm{.}60$ per share cash dividend, date of record January $10.$

March $20$ Purchased treasury stock for cash.

April $5$ Declared a $$0\mathrm{.}60$ per share cash dividend, date of record April $10.$

July $5$ Declared a $$0\mathrm{.}60$ per share cash dividend, date of record July $10.$

July $31$ Declared a $20\%$ stock dividend when the stock$$s market value was $$12$ per share.

August $14$ Issued the stock dividend that was declared on July $31.$

October $5$ Declared a $$0\mathrm{.}60$ per share cash dividend, date of record October $10.$

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