Kettle Inc. was organized on January 2, Year 1, with 6,000,000 authorized and outstanding shares of $1 par value common stock. During Year 1, the company had the following capital transactions:

January 5 issued 1,700,000 shares at $16 per share.

July 27 purchased 200,000 shares at $14 per share.

November 25 sold 120,000 shares of treasury stock at $18 per share.

Kettle used the cost method to record the purchase of the treasury shares. What would be the balance in the APIC - Treasury Stock account at December 31, Year 1?