Waterway Industries was organized on January 1, 2021, with an authorization of 1220000 shares of common stock with a par value of $5 per share. During 2021, the corporation had the following capital transactions:

January 5	issued 610000 shares @ $12 per share
July 28	purchased 85000 shares @ $11 per share
December 31	sold the 85000 shares held in treasury @ $19 per share

Waterway used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2021?

$3070000.

$4950000.

$4270000.

$-0-.