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Lucid Company Declared a Property Dividend of 20,000 Shares of $1

Question 118

Multiple Choice

Lucid 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.Market value was $10 per share on the declaration date and $11 per share on the distribution date.What is the amount of the dividend?


A) $100,000.
B) $200,000.
C) $220,000.
D) $300,000.

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