Pine Company declared a property dividend of 20,000 shares of $1 par Polk Company common stock. The Polk stock was purchased for $5 per share. The fair value of Polk's stock was $10 per share on the declaration date and $11 per share on the distribution date. What's the amount of the dividend?

Answer rating: 100% (QA)

To calculate the amount of the dividend we need to determine the fair value of the pr... View the full answer