East Co. issued 1,000 shares of its $5 par common stock to Howe as compensation for 1,000 hours of legal services performed. Howe usually bills $150 -$160 per hour for legal services. On the date of issuance, the stock was trading on a public exchange for $140 per share. By what amount should the additional paid-in-capital account increase as a result of this transaction.
$135,000
$140,000
$155,000
$160,000