Sunland Company owned 911000 shares of Wildhorse Co. stock. On December 31, 2018, when Sunland's account "Equity Investments (Wildhorse Co.") had a carrying value of $5 per share, Sunland distributed these shares to its stockholders as a dividend. Sunland originally paid $8 for each share. Wildhorse has 5070000 shares issued and outstanding, which are traded on a national stock exchange. The quoted market price for a Wildhorse share was $7 on the declaration date and $9 on the distribution date. What would be the overall reduction in Sunland's stockholders' equity as a result of the above transactions? $7,288,000 $4,555,000 $8,199,000 $3,644,000