Below is a portion of the stockholders' equity section of the December 31, 2022 balance sheet of Wahoo Company.

6% preferred stock, $20 par value, cumulative, 30,000 shares authorized; 20,000 shares issued $400,000Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000Paid-in capital in excess of par preferred stock 60,000Paid-in capital in excess of par common stock 28,000,000Retained earnings 9,650,000Treasury stock (30,000 shares) 630,000

What was the total paid-in capital as of December 31, 2022?

Group of answer choices

$47,330,000.

$48,590,000.

$57,610,000.

$47,960,000.

$47,500,000.