IBM issues 200,000 shares of stock with a par value of $0.06 for $155 per share. Three years later, it repurchases these shares for $85 per share. IBM records the repurchase in which of the following ways?

	Debit Common Stock for $12,000, debit Additional Paid-in Capital for $30,988,000 and credit Cash for $31.00 million.
	Debit Treasury Stock for $17.00 million and credit Cash for $17.00 million.
	Debit Common Stock for $12,000, debit Additional Paid-in Capital for $16,988,000 and credit Cash for $17.00 million.
	Debit Stockholders' Equity for $31.00 million, credit Additional Paid-in Capital for $17.00 million and credit Cash for $17.00 million.