Consider the following:

8% cumulative preferred stock, $100 par value, authorized 50,000 shares, issued 20,000 shares	$2,000,000
Additional paid-in capital, preferred stock	500,000
Common stock, $1 par value, authorized 10 million shares, issued 5 million shares	5,000,000
Additional paid-in capital, common stock	1,200,000
Retained earnings	3,200,000

Calculate the total paid-in capital of the corporation.