Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 4.0% cumulative preferred stock, $100 par value; authorized, 14,000 shares; issued and outstanding, 7,000 shares Common stock, $5 par value; authorized, 300,000 shares; issued and outstanding, 180,000 shares Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings $ 700,000 $ 900,000 $ 91,000 $ 1,300,000 $ 900,000 Dividends have been declared and paid for Year 1. The average issue price per share of Grant's preferred stock was: Multiple Choice $104.00. $56.50. $113.00. $100.00