The Stockholders' Equity of Benton Company at July 31, 2008

The stockholders' equity of Benton Company at July 31, 2008 is presented below:
On August 1, 2008, the board of directors of Benton declared a 15% stock dividend on common stock, to be distributed on September 15th. The market price of Benton's common stock was $35 on August 1, 2008, and $38 on September 15, 2008. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend?

A) $800,000
B) $840,000
C) $912,000
D) $600,000