A firm has balance sheet accounts indicating the following: "common stock" = $40,000; "paid in capital in excess of par on common" = $500,000; "preferred stock" = $100,000; "retained earnings" = $750,000. The firm has 40,000 common shares outstanding. Given that information, the single issue of common stock originally sold for:

Group of answer choices

$12.50 per share

$13.50 per share

$16.00 per share

$34.75 per share