Question: Mercury Company has 100,000 shares of $1 par common stock issued and outstanding as of January 1, 2018. The shares were originally issued for

Mercury Company has 100,000 shares of $1 par common stock issued and

Mercury Company has 100,000 shares of $1 par common stock issued and outstanding as of January 1, 2018. The shares were originally issued for $11 per share. On February 1, 2018, Mercury repurchased 6,470 shares at $6 per share for the purposes of retiring them. On April 10, 2018, Mercury repurchased an additional 1,210 shares at $13 per share. No other transactions involving common stock occurred during the year. What will be the balance in additional paid in capital from retired stock (aka Paid in capital share repurchase) as a result of those transactions?

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