Problem - The stockholders' equity account balances of Kay Corporation for 2020 are given below:
January 1 December 31
Common stock ($12 par, 54,000 shares outstanding) ............ 648,000 720,000
Paid-in capital - common stock ............................... 540,000 582,000
Treasury stock (10,000 shares at a cost of $16 per share) .... 160,000 33,600
Paid-in capital - treasury stock ............................. 4,000 18,000
Retained earnings ............................................ 425,000 469,745
During 2020, Kay Corporation entered into the following transactions:
March 23 Re-issued 2,500 of the treasury shares for $14 per share
June 9 Re-issued 3,800 of the treasury shares for $22 per share
August 15 Issued 6,000 shares of previously un-issued common stock
November 2 Re-issued 1,600 of the treasury shares
December 18 Declared and paid a dividend on the outstanding shares of common stock
Kay Corporation reported a net income of $280,000 for 2020.
Calculate the dollar amount per share received from the re-issue of the treasury stock on November 2. Do not use decimals in your answer or type the words per share after your answer.