On January 1, 2020, Philbin Corp. issued 4,500 of its 400,000, $1 par, common shares in exchange for land. Philbin's common stock shares are frequently and widely traded on a public exchange. On January 1, the common shares were trading for $35 per share. However, a recent appraisal indicates that the land is valued at $ 155,000. Upon issuance of the common stock, Philbin would record a credit to Paid-in Capital in Excess of Par -Common Stock for: A) $155,000 B) $157,500 C) $153,000 D) $150,500