On March 31, 2018, Water Front, Inc. shows the following data on its balance sheet:Stockholders' Equity ​Common Stock, $1 Par, 1,180,000 shares authorized ​240,000 shares issued, 230,000 shares outstanding $240,000Paid-In Capital in Excess of Par-Common 2,560,000Retained Earnings 4,790,000Treasury stock, 15,000 shares at $40 (600,000)Total Stockholders' Equity $6,990,000Assume that Water Front sells 1500 shares of treasury stock at $33 per share. What is total stockholders' equity after this transaction?a. $6,979,500b. $6,940,500c. $7,000,500d. $7,039,500