The stockholders' equity of Howell Company at July 31, 2014 is presented below:

Common Stock, Par Value $20, Authorized 400,000 Shares:	$3,200,000
Issued and Outstanding 160,000 Shares	160,000
Paid-in-Capital in Excess of Par	650,000
Retained Earnings	$4,010,000

On August 1, 2014, the board of directors of Howell declared a 10% stock dividend on common stock, to be distributed on September 15th. The market price of Howel's common stock was $70 on August 1, 2014, and $76 on September 15, 2014. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend?