The Stockholder's Equity accounts of Aspen Corp. on December 31, 2012 were as follows: Preferred Stock (6%, $100 par, cumulative, 8000 authorized) $ 600,000 Common Stock ($3 par, 1,500,000 authorized) 900,000 APIC - Preferred 90,000 APIC - Common 700,000 Retained Earnings 780.000 Treasury Stock- Common ($9 cost) 45,000 During 2013 the corporation had the following transactions and events pertaining to its stockholders equity. Mar. 21 Issued 20,000 shares of common stock in exchange for land. On the date of purchase the land had a fair market value of $210,000 and the stock was selling for $11 per share. April 17 Sold 1,500 shares of treasury stock - common for $12 per share. Nov. 22 Purchased 700 shares of common stock for the treasury at a cost of $6,300. Dec. 31 Determined that net income for the year was $463,000. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders of record as of December 12. Preferred dividends are one year in arrears. The March 21 entry would include a O a credit to Additional Paid in Capital of $160,000 O a credit to Additional Paid in Capital of $150,000 O a credit to Common Stock for $210,000 O a debit to Loss for $10,000 O a debit to Land for $210,000 The Stockholder's Equity accounts of a corporation on January 1, 2013, were as follows: Preferred Stock (2%, $100 par, cumulative, 8,000 shares authorized) $ 600,000 Common Stock ($3 par, 1,500,000 shares authorized) 900,000 Additional Paid in Capital - Preferred 90,000 Additional Paid in Capital - Common 700,000 Additional Paid in Capital - Treasury 24.000 Retained Earnings 780,000 Treasury Stock - Common ($9 per share cost) 45,000 During 2013, the corporation had the following transactions and events relating to its stockholders equity. Jan. 2 Issued 5,000 shares of common stock in exchange for a building. The fair value of the building on the date of purchase was $80,000. The stock on the date of purchase on the NYSE was selling for $17 per share. Feb. 21 Sold 1,000 shares of the treasury stock for $14 per share. Mar. 21 Issued 1,200 shares of preferred stock $120 per share. Nov. 14 Purchased 2,500 shares of common stock for the treasury at $10 per share. Dec. 31 Determined that net income for the year was $429,000. Dividends were declared and paid during December. These dividends included a $0.25 per share dividend to common stockholders of record as of December 20. There are no dividends in arrears. As of Dec. 31, 2013, what is the average selling price of the preferred stock (round to the nearest cent)? $115.83 O $100.00 O $117.52 O $120.00 O $110.76