Roberto Corporation was organized on January 1, 2016. The firm was authorized to issue 86,000 shares of $5 par common stock. During 2016, Roberto had the following transactions relating to shareholders' equity:

Issued 9,000 shares of common stock at $5.40 per share.

Issued 20,900 shares of common stock at $9.90 per share.

Reported a net income of $108,000.

Paid dividends of $49,000.

Purchased 3,300 shares of treasury stock at $11.90 (part of the 20,900 shares issued at $9.90).

What is total shareholders' equity at the end of 2016?

a)$284,970.

b)$324,240.

c)$277,440.

d)$275,240.