Kilgore Auto Parts reported the following information at December 31, 2004: - Preferred stock, 10%, $24 par value, cumulative $60,000 - Common stock, $2.50 par value 10,000 - Additional paid-in capital - Common stock 30,000 - Retained earnings 50,000 - Total contributed capital and retained earnings 150,000 - Less: Treasury stock (100 shares common stock at cost) (5,000) - Total stockholders' equity $145,000 What was the average price paid for the treasury shares when the company reaquired them?