Silver Corporation was organized on January 3, 2012. The firm was authorized to issue 100,000 shares of $2 par value common stock. During 2012, Silver had the following transactions relating to shareholders' equity: Issued 40,000 shares of common stock at $15 per share. Issued 60,000 shares of common stock at $18 per share. Reported a net income of $400,000. Paid cash dividends of $85,000. What is total paid-in capital at the end of 2012? $1, 630,000 $1, 780,000 $1, 680,000 $1, 730,000