On December 1, 2026, Cullumber Corporation exchanged 57500 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Cullumber 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, Cullumber's total stockholders' equity will increase by $575000.$2875000.$2587500.$3450000.