Sunland Company had 95000 shares of treasury stock ($10 par value) at December 31, 2020, which it acquired at $12 per share. On June 4, 2021, Sunland issued 47500 treasury shares to employees who exercised options under Sunland's employee stock option plan. The market value per share was $15 at December 31, 2020, $17 at June 4, 2021, and $20 at December 31, 2021. The stock options had been granted for $14 per share. The cost method is used. What is the balance of the treasury stock on Sunland's balance sheet at December 31, 2021? $380000. O $665000. O $570000. O $475000