Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: $ 900,000 6.5% cumulative preferred stock, $100 par value; authorized, 18,000 shares; issued and outstanding, 9,000 shares Common stock, $4 par value; authorized, 340,000 shares; issued and outstanding, 204,000 shares Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings Dividends have been declared and paid for Year 1. The average issue price per share of Grant's preferred stock was: $ 816,000 $ 45,000 $ 1,500,000 $ 920,000 Multiple Choice $52.50 $100.00 $105.00