Racer Corporation's December 31, 2017 balance sheet showed the following:

6% preferred stock, $20 par value, cumulative,
40,000 shares authorized; 25,000 shares issued	$ 500,000
Common stock, $10 par value, 4,000,000 shares authorized; 2,600,000 shares issued, 2,560,000 shares outstanding	26,000,000
Paid-in capital in excess of par value preferred stock	80,000
Paid-in capital in excess of par value common stock	37,000,000
Retained earnings	12,200,000
Treasury stock (30,000 shares)	840,000

Racer's total paid-in capital was

Question 9 options:

	$63,580,000
	$62,740,000
	$36,080,000
	$64,420,000