Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1:

8.5% cumulative preferred stock, $100 par value; authorized, 50,000 shares; issued and outstanding, 25,000 shares	$ 2,500,000
Common stock, $5 par value; authorized, 660,000 shares; issued and outstanding, 396,000 shares	$ 1,980,000
Additional paid-in capital: preferred stock	$ 50,000
Additional paid-in capital: common stock	$ 3,100,000
Retained earnings	$ 1,080,000

Dividends have been declared and paid for Year 1.

The total amount of Grant's paid-in capital at December 31, Year 1, is:

Multiple Choice

• $3,150,000.

• $3,760,000.

• $7,630,000.

• $1,080,000.