On July 1, 2026, Oriole Co. issued 3200 shares of its $10 par common stock and 6400 shares of its $10 par convertible preferred stock for a lump sum of $179200. At this date Oriole'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 Oriole's preferred stock is O $107520. $98560. O $89600. O $115200.