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The following information is from the December 31, 2018 balance sheet of Millner Corporation. Preferred Stock, $100 par $560,000 PaidminusIn Capital in Excess of Parlong

The following information is from the December 31, 2018 balance sheet of Millner Corporation. Preferred Stock, $100 par $560,000 PaidminusIn Capital in Excess of Parlong dashPreferred 43,000 Common Stock, $1 par 190,000 PaidminusIn Capital in Excess of Parlong dashCommon 510,000 Retained Earnings 191,500 Total Stockholders' Equity $1,494,500 What was the average issue price of the common stock shares? (Round your answer to the nearest cent.)

A. $1.88 B. $2.68 C. $3.68 D. $1.00

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