The following information is from the December 31, 2020 bala…
The following information is from the December 31, 2020 balance sheet of Millner Corporation. Preferred Stock, $100 par $560,000 Common Stock, $1 par, 190,000 shares issued and outstanding 190,000 Paid-In Capital in Excess of Par—Common 510,000 Retained Earnings 191,500 Total Stockholders’ Equity $1,451,500 What was the average issue price of the common stock shares? (Round your answer to the nearest cent.)