Current Attempt in Progress

Carla Vista Ltd$.$ owns $153300$ shares of Sandhill Ltd$.$ common shares, which are being accounting for by the equity method. On December $15,2023,$ when Carla Vista's "Investment in Common Shares of Sandhill Ltd$."$ account has a carrying value of $$7\mathrm{.}90$ per share, Carla Vista declares all these shares to its shareholders as a property dividend, to be distributed on December $31,2023.$ Carla Vista had originally paid $$11$ for each share. Sandhill has $1533000$ shares issued and outstanding, for which the quoted market price was $$10\mathrm{.}40$ per share on the declaration date and $$13\mathrm{.}30$ per share on the distribution date. Ignoring income taxes, what would be the reduction in Carla Vista's shareholders' equity as a result of the above transactions?

$$1211070$

$$1149750$

$$1303050$

$$1594320$