USE THE FOLLOWING FACTS TO ANSWER THE NEXT TWO QUESTIONS:

FACTS:

Equity section BEFORE repurchase of shares:

	BEFORE REPURCHASE	BEFORE REPURCHASE
# Common Shares	854,000	$1,281,000
Par Value Per Share	$1.50
Paid in Capital in Excess of PV		$3,900,000
Paid in Capital Share Repurchases		$38,000
Retained Earnings		$2,000,000
TOTAL STOCKHOLDER'S EQUITY		$7,219,000

ADDITIONAL INFORMATION:

# Shares reacquired	122,000 shares
Reacquired for per share	$4.00
ASSUME THE SHARES ARE RETIRED.

What is the amount of the CREDIT (if any) to the Paid in Capital Shares Repurchases account?