Refer to the situation described in BE 18–8. By what amount will Cox’s paid-in capital—share repurchase increase if it determines the cost of treasury shares by the FIFO method? 

Data From BE 18-8

In previous years, Cox Transport reacquired 2 million treasury shares at $20 per share and, later, 1 million treasury shares at $26 per share. If Cox now sells 1 million treasury shares at $29 per share and determines cost as the weighted-average cost of treasury shares, by what amount will Cox’s paid-in capital—share repurchase increase?