VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value $ 4,200 Common stock, $1 par value 12,000 Additional paid-in capital 262,200 Total paid-in capital 278,400 Retained earnings 270,000 Treasury stock, 10,000 common shares (140,000) Total stockholders' equity $ 408,400 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 3. If the common shares were issued at $12 per share, at what average price per share were the preferred shares issued? Preferred shares issued price $ 31 per share