The equity section of Allen Corporation's statement of financial position is presented below.

Preferred stock ($100 par value)  $ 8,000,000

Common stock ($5 par value)  5,000,000

Paid-in capital in excess of par 12,000,000

Retained earnings   6,000,000

  

Total equity   $31,000,000

  

The common shareholders of Allen Corporation have preemptive rights. If Allen Corporation issues 200,000 additional shares of common stock at $6 per share, a current holder of 10,000 shares of Allen Corporation's common stock must be given the option to buy

A) 2,000 additional shares.

B) 500 additional shares.

C) 1,667 additional shares.

D) 2,400 additional shares.