Coy, Inc. initially issued 200,000 shares of $1 par value stock for $1,000,000 in 2009, In 2010,

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Coy, Inc. initially issued 200,000 shares of $1 par value stock for $1,000,000 in 2009, In 2010, the company reacquired and retired 20,000 shares for $80,000, In 2011, Coy, Inc. sold 10,000 shares for $160,000. In its balance sheet dated December 31, 2011, Coy, Inc’s total paid-in capital is,

(a). $1.060,000.

(b). $1.080,000.

(c). $1.160,000.

(d). None of the above is correct.