When it began business in 2026, Ajax, Inc. issued 100,000 shares of $2 par stock for $1,000,000. In the following year, the company repurchased 10,000 shares for $200,000. In 2028, 5,000 of the repurchased shares were resold for $160,000. In its balance sheet dated December 31, 2028, Coy, Inc.'s treasury stock account shows a balance of:

Question 9 options:

	$0
	$100,000
	$200,000
	$40,000