When a Property Dividend Is Declared and the Book Value

When a property dividend is declared and the book value of the property exceeds its market value,the dividend is recorded at the

A) market value of the property at the date of distribution.
B) book value of the property at the date of declaration.
C) book value of the property at the date of distribution if it still exceeds the market value of the property at the date of declaration.
D) market value of the property at the date of declaration.

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