Question: The average issue price per share of Grant's preferred stock was:

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Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 4.5% cumulative preferred stock, $100 par value; authorized, 22,000 shares; issued and outstanding, 11,000 shares Common stock, $3 par value; authorized, 380,000 shares; issued and outstanding, 228,000 shares Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings $ 1,100,000 $ 684,000 $ 66,000 $ 1,700,000 $ 940,000 Dividends have been declared and paid for Year 1. The average issue price per share of Grant's preferred stock was