STU Corporation is authorized to issue 500,000 shares of $10.00 par value common stock. As of December 2014, STU's stockholders' equity accounts report the following balances:

Common Stock, $10 par, 500,000 shares authorized, 58,000 shares issued and outstanding $ 580,000 Retained Earnings 847,960 Total Stockholders' Equity $ 1,427,960

At the end of 2014, STU decided to issue a 10% stock dividend, when the market price of the stock was $13 per share.

Determine the dollar amount to be transferred from Retained Earnings to paid-in capital accounts as a result of the stock dividend.