The equity sections for Kendall Group at the beginning of the year (January 1) and end of the year (December 31 ) follow. The following transactions and events affected its equity during the year. January 5 Declared a $2.20 per share cash dividend, payable on January 10. March 20 Purchased treasury stock for cash. Aprit 5 bectared a $2.20 per share cash dividend, payable on Aprit 10. July 5 Declared a $2.20 per share cash dividend, payable on July 10. July 31 Declared a 16v stock dividend when the stock's narket volue was $22 per share. August 14 Issued the stock dividend that was declared on July 31. october 5 Declared a $2.20 per share cash dividend, date of record october 10. Calculate the amount of retained earnings to be capitalized as a result of the stock dividend