The Following Information Is from the December 31, 2018 Balance

The following information is from the December 31, 2018 balance sheet of January Corporation. $$\begin{array} { | l | r | } \hline \text { Preferred Stock, } \$ 100 \text { par } & \$ 270,000 \\\hline \text { Paid-In Capital in Excess of Par-Preferred } & 22,000 \\\hline \text { Common Stock, } \$ 1 \text { par } & 69,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & 206,000 \\\hline \text { Retained Earnings } & \underline { 56,600 } \\\hline \text { Total Stockholders' Equity } & \$ 623,600 \\\hline\end{array}$$ What is the average issue price of the preferred stock shares? (Round answers to the nearest dollar.)

A) $108
B) $100
C) $167
D) $106