Question: OurNewCo declared and immediately distributed a 50% stock dividend on the $10,000,000 issued and outstanding 1,000,000 shares of $ 1 par value stock. On the

OurNewCo declared and immediately distributed a 50% stock dividend on the $10,000,000 issued and outstanding 1,000,000 shares of $ 1 par value stock. On the dividend date the market value of the stock was $20 per share.

Using the same stock dividend information above, the PIC - in excess of par account will be increased by how much as a result of this stock dividend?

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