The equity sections from Atticus Groups 2016 and 2017 year-end balance sheets follow.

Stockholders Equity (December 31, 2016)

Common stock$6 par value, 100,000 shares authorized, 35,000 shares issued and outstanding	$210,000
Paid-in capital in excess of par value, common stock	170,000
Retained earnings	340,000
Total stockholders equity	$720,000

Stockholders Equity (December 31, 2017)

Common stock$6 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury	$246,000
Paid-in capital in excess of par value, common stock	206,000
Retained earnings ($50,000 restricted by treasury stock)	440,000
	892,000
Less cost of treasury stock	(50,000)
Total stockholders equity	$842,000

The following transactions and events affected its equity during year 2017.

Jan.	5	Declared a $0.50 per share cash dividend, date of record January 10.
Mar.	20	Purchased treasury stock for cash.
Apr.	5	Declared a $0.50 per share cash dividend, date of record April 10.
July	5	Declared a $0.50 per share cash dividend, date of record July 10.
July	31	Declared a 20% stock dividend when the stocks market value was $12 per share.
Aug.	14	Issued the stock dividend that was declared on July 31.
Oct.	5	Declared a $0.50 per share cash dividend, date of record October 10.

Problem 13-4A Part 3

3. What is the amount of the capitalization of retained earnings for the stock dividend?