On October $22,2023,$ Corona Corporation reacquired $2,000$ shares of its own $$5$ par stock for $$60,000$ cash. On December $23,2023,600$ of the treasury shares were reissued at a price of $$40$ per share.

As a result of the reacquisition of the $2,000$ shares on October $22,2023,$ Corona:

Select one:

a$.$ Has violated stock buyback provisions of the Securities & Exchange Commission.

b$.$ Will NOT record any change in total assets.

c$.$ Will record a reduction in total assets and in total stockholders' equity.

d$.$ Will record a new asset, "Treasury Stock", for $$60,000.$