XYZ Co has 7,500 shares of stock outstanding with a par value of $1.00 per share and a market value of $2.5 per share. The balance sheet shows $22,000 in the common stock account, and $82,500 in the retained earnings account. The firm just announced a 80 percent stock dividend. By what amount will retained earnings go down as a result of this dividend?

a

$0

b

$15,000

c

$18,750

d

$21,520