Athens, Inc., has 9,000 shares of common stock outstanding and the following data has been collected:
Common stock, $10 par value, 20,000 shares authorized and 10,000 issued..........$100,000
Contributed capital in excess of pay value, common stock.... $50,000
Retained earnings........$25,000
Treasury stock...........411,500
The cost per share of the treasury stock is:
A $1.15
B $11.50
C $1.28
D $10.50