The following information is provided for W Company:

Retained earnings	$445,000
Preferred stock, 5%, $50 par	100,000
Organization expense	2,500
Additional paid-in capital on common stock	?
Additional paid-in capital from recall of preferred stock	2,500
Premium on bonds payable	5,700
Common stock, $10 par	350,000

If total contributed capital is $506,000, what is the amount of additional paid-in capital on common stock for W Company?

$51,000

$52,500

$56,700

$53,500