Excursion Publishing was recently organized as a corporation. The company issued to an attorney who provided legal services worth $24,000 to help with the incorporation. Excursion also issued to an inventor in exchange for her patent with a market value of $80,000. In addition, Excursion received cash both for the issuance of 10,000 shares of its preferred stock at $120 per share and for the issuance of 18,000 of its common shares at $4 per share. During the first year of operations, Excursion earned net income of $94,000 and declared a cash of $30,000. Without making journal entries, determine the total paid-in capital created by these transactions.
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