The equity section of the balance sheet for Hilton Web-Cams looks like this:
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Common Stock, $0.25 par
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$400,000
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Paid-in capital in excess of par
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$4,500,000
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Retained earnings
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$1,100,000
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a. How many shares has the company issued?
b. What is the book value per share?
c. Suppose that Hilton Web-Cams has made only one offering of common stock. At what price did it sell shares to the market?