On December 31, 2020, Forrest Company had 300,000 common shares issued and outstanding, at an average price of $8 per share. On January 1, 2021, Forrest offered its employees the opportunity to purchase 1,000 common shares each at a price of $6.50, with a 20% down-payment due on January 15, and the remaining amount due on March 31. Twenty employees decided to take advantage of this offer, and paid the 20% down-payment on January 15. On March 31, fourteen employees made the final payment; six employees defaulted on the offer. Forrest returned the original down-payment to the six employees. What is the value of the common shares issued on March 31?

Question 8 options:

$104,000

$112,000

$130,000

$ 91,000