What Was the Average Price (Rounded to the Nearest Dollar)

question 41

Multiple Choice

What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2009?

• A)$5 per share
• B)$26 per share
• C)$39 per share
• D)Cannot be determined from the given information.Proceeds = Increase in common stock + increase in additional paid-in capital = $30 million + $128 million = $158 million
• Average issue price = Proceeds/Number of shares issued
• = $158 million/6 million shares = $26.33/share, rounded to $26 per share

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