The Building Firm has 1,000,000 common shares issued & outstanding. The stock was issued at a premium above its $10 per share par value. During the current fiscal yr, the board of directors declared a 15% stock dividend that created 10,000 new shares issued to existing stockholders when the price of the stock was $35 per share. What is the amount of the reduction recorded in stockholders' equity?

Question 15 options:

	$1,000,000
	0
	$1,500,000
	$3,500,000