Sheridan Company was organized on January 2, 2021, with 518000 authorized shares of $10 par value common stock. During 2021, Sheridan had the following capital transactions: January 5issued 388500 shares at $12 per share. July 27purchased 25900 shares at $9 per share. November 25sold 15540 shares of treasury stock at $11 per share. Sheridan used the cost method to record the purchase of the treasury shares. What would be the balance in the Paid-in Capital from Treasury Stock account at December 31, 2021?

$0.

$15540.

$31080.

$46620.