Cox Corporation was organized on January 1, 2003, at which date it issued 100,000 shares of $10 par common stock at $15 per share. During the period January 1, 2003, through December 31, 2005, Cox reported net income of $450,000 and paid cash dividends of $230,000. On January 10, 2005, Cox purchased 6,000 shares of its common stock at $8 per share. On December 31, 2005, Cox sold 4,000 treasury shares at $12 per share. What is Cox's total stockholders' equity at December 31, 2005?

Select one:

a. $1,720,000

b. $1,704,000

c. $1,688,000

d. $1,760,000

e. $1,680,000