Skysong Merchandising Inc. had the following share capital and balances on January 1, 2021 $2.50 cumulative preferred shares, convertible into common shares at a ratio of 4 common shares for 1 preferred share. $2,093,000 unlimited number of shares authorized, 130,000 shares issued Common shares, unlimited number of shares authorized, 850,000 shares issued 2.975,000 The following transactions relating to shares occurred in 2021 and 2022 Mar 31, 2021 Skysong declared total annual dividends of $780,000 for shareholders of record on April 1, 2021. There were no dividend arrears at January 1, 2021. April 30, 2021 Skysong paid the dividends owing. July 10, 2021 Shareholders converted 25.000 preferred shares into common shares. The fair value per preferred share was $17.40 per common share, $4.70. Feb 20, 2022 Skysong declared an annual dividend of $640,000 to shareholders of record on March 1, 2022 Mar. 5. 2022 Skysong paid $340,000 of the dividends owing. July 15, 2022 Shareholders converted 50,000 preferred shares into 200,000 common shares. The fair value per preferred share was 516.40, per common share, $5.20 Calculate the average per share amount of the preferred and common shares at January 1, 2021. (Round answers to 2 decimal places, es. 52.75)