Preferred Stock(2%, $100 par, cumulative, 3,000 shares authorized) Common Stock ($3 par, 1,500,000 shares authorized) Additional Paid in Capital Preferred Additional Paid in Capital Common Additional Paid in Capital - Treasury Retained Earnings Treasury Stock - Common ($9 per share cost) $ 600,000 900,000 90,000 700,000 24,000 780,000 45,000 During 2019, the corporation had the following transactions and events relating to its stockholders equity Jan. 2 Issued 5,000 shares of common stock in exchange for a building. The fair value of the building on the date of purchase was $80,000. The stock on the date of purchase on the NYSE was selling for $17/share Sold 1,000 shares of the treasury stock for $14 per share Issued 1,200 shares of preferred stock $120 per share Purchased 2,500 shares of common stock for the treasury at $10 per share Feb. 21 Mar. 21 Nov. 14 Determined that net income for the year was $429,000. Dividends were declared and paid during December. These dividends included a $0.25 per share dividend to common stockholders of record as of December 20 and total preferred dividends of $12,000. There are Dec. 31 no dividends in arrears As of Dec. 31, 2019, what is the average selling price of the preferred stock (round to the nearest cent)? OA. $115.83 B. $100.00 $117.52 D. $120.00 E. 1 1076