Stockholders' equity of Ziyech Corporation is as follows:

Common stock, $20 par; issued and outstanding 90,000 shares: $1,800,000

Paid-in capital excess of par: $900,000

Retained earnings: $760,000

The current market price of Ziyechs stock is $37 per share. If Ziyech declares and distributes a 20% stock dividend, paid-in capital excess of par balance will be:

Multiple Choice

• $1,206,000

• $1,566,000

• $1,260,000

• $900,000