On July 1, 2021, Swifty Corporation issued 2100 shares of its $10 par common stock and 4200 shares of its $10 par convertible preferred stock for a lump sum of $117600. At this date Swifty's common stock was selling for $24 per share and the convertible preferred stock for $18 per share. The amount of the proceeds allocated to Swifty's preferred stock should be $70560. $75600. $58800. $64680