Shown below is information relating to the stockholders' equity of Clydesdale Corporation at December 31, 2015:

4% cumulative preferred stock, $80 par,100,000 shares authorized, 20,000 shares issued	$	1,600,000
Common stock, $2.50 par, 1,000,000 shares authorized, 600,000 shares issued (of which 8,000 are held in treasury)		1,500,000
Additional paid-in capital: preferred stock		800,000
Additional paid-in capital: common stock		900,000
Treasury stock (8,000 common shares)		(192,000	)
Retained earnings		1,825,000

If Clydesdale Corporation had reacquired the 8,000 shares of treasury stock early in 2018, what was the purchase price per share?

Select one:

a. $2.50 per share

b. $4.00 per share

c. $24 per share

d. More information is needed to determine the purchase price.