A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price

was $11 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? O A. $3,200 B. $6,400 OC. $4,800 D. $8,800