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Question 8 2 pts Kaur Industries owned investment securities with a...

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Accounting

Question 8
2 pts
Kaur Industries owned investment securities with a book value of $21 million on August 12. At that time, Kaur's board of directors declared a property dividend consisting of these securities. The fair value of the securities was as follows:
Declaration --.- August 12
$29 million
Date of record --- September 1
32 million
Distribution date -.- September 20
34 million
By how much is total stockholder' equity reduced by the property dividend?
$34 million
$32 million
$21 million
$28 million
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