Galaxy Industries Buys Back 600,000 Shares of Its Stock from Investors

Galaxy Industries buys back 600,000 shares of its stock from investors at $45 a share.Two years later it reissues this stock for $65 a share.The stock reissue would be recorded with a debit to Cash for:

A) $39 million and a credit to Treasury Stock for $39 million.
B) $27 million,a debit to Additional Paid-in Capital for $12 million,a credit to Treasury Stock for $27 million,and a credit to Stockholders' Equity for $12 million.
C) $39 million,a credit to Treasury Stock for $27 million,and a credit to Additional Paid-in Capital for $12 million.
D) $39 million,a credit to Treasury Stock for $27 million,and a credit to Gain on Sale of Treasury Stock for $12 million.