Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, 2018:

8% cumulative preferred stock, $100 par	$	600,000
Common stock, $10 par, 500,000 shares authorized, 120,000 shares issued and outstanding		1,200,000
Additional paid-in capital: Common stock		600,000
Retained earnings (Deficit)		(60,000	)
Dividends in arrears		48,000

What was the original issue price per share of common stock?

Select one:

a. $10.00 per share

b. $2.40 per share

c. $15.00 per share

d. $8.00 per share