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Permyakova Inc.s Balance Sheet had the following line items: Shareholders Equity 12/31/2012 12/31/2011 Common Stock, par value $1 per share $300,000 $300,000 (Shares Issued: 300,000

Permyakova Inc.s Balance Sheet had the following line items:

Shareholders Equity 12/31/2012 12/31/2011
Common Stock, par value $1 per share $300,000 $300,000
(Shares Issued: 300,000 in 2012 and 300,000 in 2011;
Shares Outstanding: 250,000 in 2012 and 220,000 in 2011)
Additional Paid in Capital $1,750,500 $1,750,500
Retained Earnings $10,321,123 $8,675,309
Treasury Stock $(550,000) $(800,000)
Total $11,821,623 $9,925,809

What was the average price per share paid by Permyakova to acquire all of the treasury shares held as of December 31, 2012?

$11.00

$10.00

$10.50

$10.38

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