The company was authorized to issue 82,000 shares of $5 par common stock. During 2021, its first year of operations, they showed the following: Issued 39,000 shares of common stock at $6.30 per share. Issued 20,000 shares of common stock at $8.60 per share. Reported net income of $102,000. Paid dividends of $47,000. Total paid-in capital at the end of 2021 is?

Multiple Choice

• $370,700.

• $519,700.

• $421,700.

• $417,700.