(b) Calculate the average per share amount for the common shares. (Round answer to 2 decimal places, e.g. 5.25.) Average cost eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Current Attempt in Progress Swifty Corp., a private corporation, received its articles of incorporation on January 3,2024 . It is authorized to issue an unlimited number of common shares and $1 preferred shares. It had the following share transactions during the year: Jan. 12 Issued 56,000 common shares for $5 per share. 24 Issued 1,070 common shares in payment of a $6,577 bill for legal services. July 11 Issued 1,120 preferred shares for $25 per share. Oct. 1 Issued 11,200 common shares in exchange for land. The land's fair value was estimated to be $61,600. Swifty's accountant estimated that the fair value of the shares issued might be as high as $6 per share