A firm's balance sheets as of the December 31, 2015 and 2016 show the following items: 2015: Cash = $9,916,500; Account Receivable = $9,000,000; Inventory = $4,500,000; Gross Fixed Assets = $10,972,000; Accumulated Depreciation = $1,243,000; Retained Earnings = $1,967,500; Capital Surplus = $8,600,000; Common Stock ($2 par) = $4,500,000; Notes Payable = $8,921,000; Long term debt = $2,500,000; Accounts Payable = $6,657,000. 2016: Cash = $11,098,000; Account Receivable = $7,600,000; Inventory = $5,200,000; Gross Fixed Assets = $13,774,000; Accumulated Depreciation = $1,675,000; Retained Earnings = $1,967,500; Capital Surplus = $17,300,000; Common Stock ($2 par) = $4,890,000; Notes Payable = $7,773,000; Long term debt = $1,500,000; Accounts Payable = $6,132,000. Calculate the average price per share at which new shares were sold in 2016.

A. $59.42

B. $27.49

C. $33.46

D. $46.62