The following information is from the December 31, 2018 balance sheet of Millner Corporation.

Preferred Stock, $100 par	$550,000
PaidIn Capital in Excess of ParPreferred	39,000
Common Stock, $1 par	260,000
PaidIn Capital in Excess of ParCommon	560,000
Retained Earnings	151,500
Total Stockholders' Equity	$1,560,500

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

A.

$2.15

B.

$1.84

C.

$1.00

D.

$3.15