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Burton Inc. has two classes of stock, 5 % $ 1 0 0 par cumulative Preferred Shares and $ 3 par Common Shares. The equity

Burton Inc. has two classes of stock, 5% $100 par cumulative Preferred Shares and $3 par Common Shares. The equity section shows:
Common stock, $3 par value, 1,000,000 shares authorized and ___?___ shares issued................$755,000
Paid in capital in excess of par value........................................................................................$255,000
At what average price was the common shares issued?
Respond rounded to TWO DECIMALS, without a dollar sign and without commas.

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