Whispering Corporation's December 31, 2020 balance sheet showed the following:

6% preferred stock, $20 par value, cumulative,
35000 shares authorized; 18000 shares issued	$ 360000
Common stock, $10 par value, 3,000,000 shares authorized;
1,950,000 shares issued, 1,920,000 shares outstanding	19400000
Paid-in capital in excess of par value - preferred stock	50000
Paid-in capital in excess of par value - common stock	27700000
Retained earnings	9650000
Treasury stock (30,000 shares)	522000

Whispering's total paid-in capital was

$46988000.

$27610000.

$47510000.

$48032000