Coca Cola Amatil capital consisted of 172,000 shares issued at $2.00 and paid to $1.75 per share. On 1 January 2020, the company made a call of $0.25 per share payable by 26 February 2020. At this date, all shareholders had paid the call except the holder of 8,000 shares. On 15 March, Coca Cola Amatil decided to forfeit the shares on which the call was unpaid. The companys constitution provided for any surplus on resale, after satisfaction of unpaid calls and costs, to be returned to the shareholder whose shares were forfeited. On 28 March 2020, the 8,000 shares were reissued for $1.90 per share, the shares being credited as paid to $2.00 per share. Costs of reissue amounted to $2,800. What is the correct amount for the refund balance from the forfeited shares liability?

A. 10, 400 B. 15, 200 C. 2, 800 D. 16, 000