Company X had the following recent common stock transactions pertaining to the same stock issuance:

In June of the prior year, Issued 500,000 new shares of $2 par value common stock at $18 per share

On January 1, repurchased $300,000 shares of common stock at $20 per share

On December 31, reissued 150,000 shares of common stock at $21 per share.

If the company uses the par value (legal) method, what is the balance of the additional paid in capital- C/S account at December 31year-end (assume the retained earnings account is not used)?

a. $2,750,000

b. $ 5,000,000

c. $8,150,000

d. 5,450,000