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The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders equity 12/31/2018 12/31/2017 Common stock, $5 par; 36 million shares
The following partial information is taken from the comparative balance sheet of Levi Corporation:
Shareholders equity | 12/31/2018 | 12/31/2017 | ||||||
Common stock, $5 par; 36 million shares authorized; 31 million shares issued and 25 million shares outstanding at 12/31/2018; and ____million shares issued and ____shares outstanding at 12/31/2017. | $ | 155 | million | $ | 125 | million | ||
Additional paid-in capital on common stock | 523 | million | 401 | million | ||||
Retained earnings | 192 | million | 160 | million | ||||
Treasury common stock, at cost, 6 million shares at 12/31/2018 and 4 million shares at 12/31/2017 | (67 | million) | (45 | million) | ||||
Total shareholders equity | $ | 803 | million | $ | 641 | million | ||
What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2018?
Multiple Choice
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$25 per share.
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$38 per share.
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Cannot be determined from the given information.
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$5 per share.
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