Shown below is Information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 5.5% cumulative preferred stock, $100 par value; authorized, 38,000 shares; issued and outstanding, 19,800 shares Common stock, $5 par value; authorized, 540,000 shares; issued and $ 1,900,000 outstanding, 324,000 shares $ 1,620,000 Additional paid-in capital: preferred stock $ 190,000 Additional paid-in capital: common stock $ 2,500,000 Retained earnings $ 1,020,000 Dividends have been declared and paid for Year 1 Grant's total legal capital at December 31, Year 1, is: Multiple Choice $5,000,000 $1,115,000