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How much was paid per share on the re-purchase

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Question - Wheaton Inc. had the following balances as of December 31, 2021:

-Contributed surplus- common share repurchase $44,000

-Retained Earnings $ 400,000

-Common shares- 100,000 issued, outstanding $1,414,000

During 2022, Wheaton had the following equity transactions:

Mar. 1- issued 10,000 common shares in exchange for land appraised at $170,000 when the common shares' market price was $16 each;

July 1- repurchased 8,000 common shares- this resulted in a reduction of contributed surplus-common share repurchase by $44,000 and retained earnings by $4,000.

On July 1, how much was paid per share on the re-purchase?

Reference no: EM133168177

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