Exercise 1-1

Presented below is information related to a company:

Common Stock, $25 par $5,500

Paid-in Capital in Excess of ParCommon Stock 5,300

Preferred 6% Stock, $10 par 8,000

Paid-in Capital in Excess of ParPreferred Stock 1,000

Retained Earnings 1,300

Treasury Common Stock (at cost) 214

What was the issuing price for each common share? (round to the nearest cent, or hundredth place, if necessary.)