A corporation reported the following in their balance sheet:

Common stock, $1 par, 100,000 shares

authorized,? shares issued $40,000

Additional paid-in-capital $160,000

Retained Earnings 100,000

Treasury Stock (1,000 shares at cost) (6,000)

Total shareholders' equity $294,000

What is the average price paid by the stockholders for a share of common stock?

A. $1.00

B. $7.35

C.$ 6.00

D.$ 5.00