When Hawk Co.'s stock was selling at $65 per share, its equity accounts were as follows:

- Common Stock (Par value $50: 200,000 shares authorized, 60,000 shares issued and outstanding) = $3,000,000

-Additional Paid in Capital = 600,000

-Retained Earnings = 4,200,000

Net income for the year was $250,000. If a 100% stock dividend were declared, Total Paid in capital would be:

A) 7,500,000

B) 8,050,000

C) 8,600,000

D) 6,600,000