On March 1, 20x1 ABC Company issued the following shares in a lump sum purchase for $55,000, 1,000 shares of common stock (par $10) and 2,000 shares preferred stock (par $10). If the current market value for the common stock is $24, but there is no known FMV for the preferred, what amount should be credited to additional paid-in capital on common stock?

Question 14 options:

a)

$11,000.

b)

$12,000.

c)

$13,000.

d)

$14,000.