Agee Storage issued 26 million shares of its $1 par common stock at $11 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $9 per share.

Assuming that Agee retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Agee's total paid-in capital decline if it now reacquires 1 million shares at $16 per share?