High Chaparral Company's Capital Stock Is Currently Trading for $22

Multiple Choice

High Chaparral Company's capital stock is currently trading for $22 per share. The High Chaparral Company has the following accounts included within the owners' equity section of the balance sheet: $\begin{array} { l } \text { Capital stock, \( \$ 5.00 \) par value, 10,000 shares issued }& \$50,000\\ \text {Capital in excess of par value }&110,000 \\\end{array}$
Assuming that the only transaction affecting these accounts was the issue of the company's capital stock, the High Chaparral Company originally sold its capital stock for:

A) $16.00 per share
B) $5.00 per share
C) $22.00 per share
D) $11.00 per share