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The following information is from the balance sheet of Tudor Corporation as of December 31, 2010.
Preferred stock, $100 par $ 500,000Paid-in capital in excess of par - preferred 35,000Common stock, $1 par 190,000Paid-in capital in excess of par - common 380,000Retained earnings 131,500Total stockholders' equity $1,236,500
Preferred stock, $100 par
What was the average issue price of the common stock shares?
a. $1.00
b. The average price cannot be determined from the information given.
c. $1.90
d. $3.00
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