The stockholders' equity section of the balance sheet of Carmon Corporation at December 31, appears as follows: Stockholders' Equity $2 Cumulative preferred stock, $100 par; authorized, 10,000 shares; issued and outstanding, 8,000 shares $ 800,000 Common stock, $1 par; authorized, 100,000 shares; issued and outstanding; ? shares 85,000 Additional Paid-in Capital: From issuance of preferred stock 230,000 From issuance of common stock 775,000 Total paid-in capital $ 1,890,000 Retained earnings 900,000 Total Stockholders' equity $ 2,790,000 What was the average issue price per share of preferred stock?

Multiple Choice $200.00 $128.75