Problem
Shown below is information relating to the stockholders' equity of Clydesdale Corporation at December 31, 2015:
4% cumulative preferred stock, $80 par,100,000 shares authorized, 20,000 shares issued $ 1,600,000
Common stock, $2.50 par, 1,000,000 shares authorized, 600,000 shares issued (of which 8,000 are held in treasury) 1,500,000
Additional paid-in capital: preferred stock 800,000
Additional paid-in capital: common stock 900,000
Treasury stock (8,000 common shares) (192,000 )
Retained earnings 1,825,000
If Clydesdale Corporation had reacquired the 8,000 shares of treasury stock early in 2018, what was the purchase price per share?