Berwyn Company Is Authorized to Issue 1,000,000 Shares of $40

Berwyn Company is authorized to issue 1,000,000 shares of $40 par value common stock. By November 15, 2019, the company had issued 50,000 shares at $50 per share. On November 15, 2019, the company declared a 30% stock dividend when the market price was $52 per share.
What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend?

A) $ 600,000
B) $ 780,000
C) $2,400,000
D) $3,120,000