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

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. The fair value of Polk's stock 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.