QUESTION 1 Use the following information to answer questions 1-5 The Stockholder's Equity accounts of a corporation on January 1, 2017, were as follows: Preferred Stock (6%, $200 par, cumulative, 4,000 shares authorized) Common Stock (S5 par, 1,000,000 shares authorized) Additional Paid in Capital - Preferred Additional Paid in Capital Common Retained Earnings Treasury Stock- Common (7,000 shares) $470,000 1,350,000 89,300 6,480,000 1,657,000 126,000 During 2017, the corporation had the following transactions and events relating to its stockholders equity Issued 30,000 shares of common stock in exchange for property. On this date the stock was trading for $15 per share. Issued 400 shares of preferred stock at $250 per share an. Feb. 2 Mar. 21Sold 1,000 shares of treasury stock -common for $21 per share Nov. 14Purchased 2,000 shares of common stock for the treasury at a cost of S22,000 Dec. 31 Determined that net income for the year was S318,000. 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. There are no dividends in arrears As of Dec. 31,2017, what is the average selling price of the preferred stock? OA. $225.00 B. s280.55 $200.00 $239.75 E $207.27