Answer:
$70.00
Step-by-step explanation:
Average issue price per share of preferred stock = (Preferred stock capital + Contributed capital in excess of par value, Preferred Stock) / Number of shares issues & outstanding
Average issue price per share of preferred stock = ($100,000 + $250,000) / 5,000 shares
Average issue price per share of preferred stock = $350,000 / 5,000 shares
Average issue price per share of preferred stock = $70.00