On December 1, 2026, Crane Corporation exchanged 51500 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Crane at a cost of $45 per share and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $60 per share (the shares were originally issued at $35 per share). As a result of this exchange, Crane's total stockholders' equity will increase by

a) $515000. b) $2575000. c) $3090000. d) $2317500.