Kirby Financial periodically repurchases (but never retires) its common shares. On January 1, 2023, Kirby repurchased 3 million common shares for $15 per share. On March 15, 2023, Kirby repurchased an additional 9 million common shares for $20 per share. Then on October 15, 2023, Kirby sold 5 million of its treasury shares for $44 per share. 

 

 

 Assuming Kirby Financial uses the FIFO method to determine the cost of treasury shares, by what AMOUNT will Kirbys treasury stock account be credited when the company sells the 5 million treasury shares on October 15, 2023? In other words, what will the company use as the cost basis for the treasury shares sold on October 15, 2023?