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On December 1, 2021, Marigold Corp. exchanged 53000 shares of its $10 par value common stock held in treasury for a used machine. The treasury

On December 1, 2021, Marigold Corp. exchanged 53000 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Marigold at a cost of $40 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $55 per share (the shares were originally issued at $30 per share). As a result of this exchange, Marigold's total stockholders' equity will increase by

$ 530000.

$2120000.

$2915000.

$2385000.

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