The stockholders equity section of Velcro World is presented here.

VELCRO WORLD Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value	$	5,100
Common stock, $1 par value		21,000
Additional paid-in capital		624,000
Total paid-in capital		650,100
Retained earnings		279,000
Treasury stock, 11,000 common shares		(253,000)
Total stockholders' equity	$	676,100

Based on the stockholders equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands.

3.	If the common shares were issued at $21 per share, at what average price per share were the preferred shares issued?

4.	If retained earnings at the beginning of the period was $241 million and $21 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in millions.)