Analyzing and Computing Average Issue Price and Treasury Stock Cost Assume this is the stockholders' equity section from the Campbell Soup Company balance sheet.

Shareholders' Equity (millions, except per share amounts)	August 3, 2008	July 29, 2007
Preferred stock: authorized 40 shares; non issued	$ --	$ --
Capital stock, $0.0375 par value; authorized 560 shares; issued 582 shares	22	22
Additional paid-in capital	337	331
Earnings retained in the business	7,930	7,112
Capital stock in treasury, 186 shares in 2008 and 163 shares in 2007, at cost	(6,812)	(6,015)
Accumulated other comprehensive loss	(136)	(123)
Total shareholders' equity	$ 1,341	$ 1,327

Assume Campbell Soup Company also reports the following statement of stockholders' equity.

(Millions, except per share amounts)	Capital Stock				Additional Paid-in Capital	Earnings Retained in the Business	Accumulated Other Comprehensive Income (Loss)	Total share-owners' Equity
	Issued		In Treasury
	Shares	Amount	Shares	Amount
Balance at July 29, 2007	582	$ 22	(163)	$ (6,015)	$ 331	$ 7,112	$ (123)	$ 1,327
Comprehensive income (loss)
Net earnings						1,175		1,175
Foreign currency translation adjustments, net of tax							112	112
Cash-flow hedges, net of tax							11	11
Pension and postretirement ;benefits, net of tax							(136)	(136)
Other comprehensive loss							(13)	(13)
Total comprehensive income								1,162
Impact on adoption of FIN 48 Note 10)						(10)		(10)
Dividends ($0.88 per share)						(347)		(347)
Treasury stock purchased			(26)	(903)				(903)
Treasury stock issued under management incentive and stock options plan			3	106	6			112
Balance at August 3, 2008	582	$ 22	(186)	$ (6,812)	$ 337	$ 7,930	$ (136)	$ 1,341

(b) At what average price were the Campbell Soup shares issued? (Round your answer to two decimal places.) $Answer