TB MC Qu. 18-105 (Algo) Lucid Company declared...

Lucid Company declared a property dividend of 25,000 shares of its investment in $1 par Polk Company common stock. The Polk stock was purchased for $2 per share. The fair value of Polks stock was $12 per share on the declaration date of the property dividend and $13 per share on the distribution date. What is the amount of the dividend?

Multiple Choice

• $50,000.

• $325,000.

• $300,000.

• $350,000.