The following information is from the December 31, 2017 balance sheet of Lawson Corporation.

Preferred Stock, $100 par $570,000 Paid-In Capital in Excess of ParPreferred 37,000 Common Stock, $1 par 240,000 Paid-In Capital in Excess of ParCommon 520,000 Retained Earnings 201,500 Total Stockholders' Equity $1,568,500

What was the average issue price of the common stock shares? (Round your answer to the nearest cent.)

	a.	$1.00
	b.	$1.85
	c.	$2.17
	d.	$3.17