Nina Corporations December 31, 2014 balance sheet showed the following:

8% preferred stock, $20 par value, cumulative, 40,000 shares

authorized; 20,000 shares issued $ 400,000

Common stock, $10 par value, 4,000,000 shares authorized;

3,900,000 shares issued, 3,860,000 shares outstanding 39,000,000

Paid-in capital in excess of parpreferred stock 120,000

Paid-in capital in excess of parcommon stock 54,000,000

Retained earnings 15,300,000

Treasury stock (40,000 shares) 1,260,000

Ninas total paid-in capital was

a. $93,520,000.

b. $94,780,000.

c. $92,260,000.

d. $54,120,000.