Your firm is planning to pay a $15\%$ stock dividend. The market price for the stock has been $$84.$

The table below presents the equity portion of your firm's balance sheet before the dividend.

Common stock

Par value

$(1$ million shares

outstanding; $$4$ par value$)$ $ $4,000,000$

Paid$-$in capital $16,000,000$

Retained earnings $30,000,000$

Total equity $$50,000,000$

$19)$ Which of the following would result from payment of the stock dividend?

A$)$ Total equity would remain at $$50,000,000.$

B$)$ Total equity would increase to $$57,500,000.$

C$)$ Total equity would decrease to $$43,478,261.$

D$)$ The effect on the equity account would depend on the market's reaction to the dividend.