The balance sheet caption for common stock is the following:

Common stock without par value, $3,200,000$ shares authorized, $890,000$ shares $$3,500,000$

issued, and $740,000$ shares outstanding

Required:

a$.$ Calculate the average price at which the shares were issued.

b$.$ If these shares had been assigned a stated value of $$1$ each, show how the caption here would be different.

c$.$ If a cash dividend of $$0\mathrm{.}13$ per share were declared, calculate the total amount of cash that would be paid to stockholders.

d$.$ What accounts for the difference between issued shares and outstanding shares?

Calculate the average price at which the shares were issued.

Note: Round your answer to $2$ decimal places.