The following information is from the December 31, Year 5 balance sheet of Watermelon Corporation.

Preferred Stock, $100 par	$500,000
Paid-In Capital in Excess of ParPreferred	44,000
Common Stock, $1 par	220,000
Paid-In Capital in Excess of ParCommon	600,000
Retained Earnings	131,500
Total Stockholders' Equity	$1,495,500

What was the average issue price of the common stock shares?