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Shareholders' Equity: Common Stock, $2 par value, 1,000,000 authorized, 50,000 shares issued...

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Accounting

Shareholders' Equity:

Common Stock, $2 par value, 1,000,000 authorized, 50,000 shares issued

$100,000
Additional Paid-in Capital

300,000
Retained Earnings

20,000

Assuming all of the shares were sold at the same time, at what price was each share sold? Round your answer to the nearest whole penny.

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