WALLAWALLA CORPORATION Statement of Financial Position (partial) Shareholders' equity Contributed capital $5 Preferred shares, cumulative, 10,000 authorized, 6,200 shares issued $620,000 Common shares, 750,000 authorized, 605,600 shares issued 2,422,400 Contributed surplus 85,00C Total contributed capital 3,127,400 Retained earnings 1,100,000 Total shareholders' equity $4,227,400 What is the average cost of the preferred shares? Average Cost per share