Percy Corporation was organized on January 1, 2026 with the authorization of 1,200,000 shares of common stock with a par value of $6 per share. In 2026, the corporation had the following capital transactions:

January 5 Issued 600,000 shares @ $10 per share

July 28 Purchased 80,000 shares @ $11 per share

December 31 Sold the 80,000 shares held in treasury @ $18 per share

Percy used the cost method to record the purchase and the reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2026?

a. $-0-.

b. $1,840,000.

c. $2,400,000.

d. $2,960,000.