Matzusure incorporated is authorized to issue 200,000 shares of $4 par common stock. The company issued 73,000 shares at $5 per share. When the market price of common stock was $7.00 per share Matzusure incorporated declared and distributed a 10% stock dividend. Later matzusure incorporated declared and paid a $0.60 per share cash dividend. First journalize the declaration of the stock dividend: now journalize the distribution of the stock dividend. Begin by journalizing the declaration of the cash dividend and finally, journalize the payment of the cash dividend.

I do not know how they get the answer of cash dividends of %48,180. Please help! Thank you!