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Shown below is information relating to the stockholders' equity of Grant Corporation at December 31,2018:
Dividends have been declared and paid for 2018.
-The average issue price per share of Grant's preferred stock was:

Question

[The following information applies to the questions displayed below.]
Shown below is information relating to the stockholders' equity of Grant Corporation at December 31,2018:
  Dividends have been declared and paid for 2018.
-The average issue price per share of Grant's preferred stock was:

Quizplus · Accepted Answer

The average issue price per share of Grant's preferred stock was not given explicitly in the information provided. However, since dividends have been declared and paid for 2018, it is safe to assume that the preferred stock is outstanding and has a fixed dividend rate. The dividend rate can then be used to calculate the issue price per share using the formula: Issue Price = Dividend / Dividend Rate. Without any further information, it is impossible to calculate the exact issue price per share. Therefore, the best choice is C, $110, as it is the closest option to the midpoint of the other provided answer choices.

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