Kagan Corporation was organized on January 2, 2017. During 2017, Kagan issued 40,000 shares at $24 per share, purchased 10,000 shares of treasury stock at $26 per share, and had net income of $600,000. What is the total amount of stockholders equity at December 31, 2017?

Select one:

a. $1,404,000

b. $1,416,000

c. $1,280,000

d. $1,820,000