Question
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; 34 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; 34 million shares authorized; 29 million shares issued and 22 million shares outstanding at 12/31/2018; and ____million shares issued and ____shares outstanding at 12/31/2017. | $ | 145 | million |
| $ | 110 | million |
|
Additional paid-in capital on common stock |
| 521 | million |
|
| 392 | million |
|
Retained earnings |
| 194 | million |
|
| 158 | million |
|
Treasury common stock, at cost, 7 million shares at 12/31/2018 and 3 million shares at 12/31/2017 |
| (80 | million) |
|
| (45 | million) |
|
Total shareholders equity | $ | 780 | million |
| $ | 615 | million |
|
What was the average price of the additional treasury shares purchased by Levi during 2018? (Round your answer to 2 decimal places.)
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