The shareholders' equity of Ava Company on January 1, 2017, included the following:

Common stock, $0.5 par; authorized, 800,000 shares; You will need to calculate the issued shared	$252,506
Paid-in capitalexcess of par	65,844
Retained earnings	$500,000

On April 1, 2017, the board of directors of Ava declared a 7% stock dividend on common shares, to be distributed on June 1. The market price of Avas common stock was $10 on April 1, 2016, and $16 on June 1, 2016.

On April 1, the credit to PIC-excess of par is $________