Saleh Corporation established Twist Company as a wholly owned subsidiary. It transferred assets and accounts payable to Twist in exchange for its common stock.

ACCOUNT	Book Value	Market Value
Cash	12,000	12,000
Accounts receivable	24,000	22,000
Inventory	15,000	18,000
Buildings & Equipment	360,000	410,000
Accounts payable	40,000	40,000
Accumulated depreciation	104,000	116,000
Common stock	92,000	92,000
Additional paid in capital	175,000	214,000

Based on the preceding information, what number of shares of $5 par value stock did Twist issue to Saleh?

Select one:

a. 61,200 shares

b. 53,400 shares

c. 18,400 shares

d. 35,000 shares