Zhang Corp. recently organized. The company issued common stock to an attorney who gave Susan Zhang legal services of \(\$ 5,000\) to help her in organizing the corporation. It issued common stock to another person in exchange for his patent with a market value of \(\$ 40,000\). In addition, Zhang received cash both for 2,000 shares of its preferred stock at \(\$ 110\) per share and for 26,000 shares of its common stock at \(\$ 15\) per share. The city of Sacramento donated 50 acres of land to the company as a plant site. The market value of the land was \(\$ 600,000\). Without making journal entries, determine the total paid-in capital created by these transactions.