Interpret the Stockholders' Equity Section

Medici Inc. has the following stockholders' equity section of the balance sheet:

Medici Inc.
Balance Sheet (Partial)
Stockholders' equity:
Preferred stock, 100,000 shares authorized;
30,000 issued and outstanding			$300,000
Common stock, 1,000,000 shares authorized;
600,000 issued; 550,000 outstanding			1,200,000
Additional paid-in capital:
Preferred stock	$90,000
Common stock	4,800,000		4,890,000
Total capital stock			$6,390,000
Retained earnings			450,000
Accumulated other comprehensive income			22,000
Less: Treasury stock, at cost			(800,000)
Total stockholders' equity			$6,062,000

Required:

1. How many shares of preferred stock are authorized? shares

2. How many shares of common stock are outstanding? shares

3. What was the average selling price for the common stock when issued? $ per shares

4. What was the average repurchase price for the treasury shares? $ per shares

5. If the annual dividends on the preferred stock are $0.80 per share, what is the dividend rate on the preferred stock? %