27.
Leases Marathon leases a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, production facilities and transportation equipment.
Most long-term leases include renewal options and, in certain leases, purchase options.
Future minimum commitments for capital lease obligations (including sale-leasebacks accounted for as financings) and for operating lease obligations having remaining noncancelable lease terms in excess of one year are as follows:
## Table 0 ##
In connection with past sales of various plants and operations, Marathon assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of United States Steel.
In the event of a default by any of the purchasers, United States Steel has assumed these obligations; however, Marathon remains primarily obligated for payments under these leases.
Minimum lease payments under these operating lease obligations of $42 million have been included above and an equal amount has been reported as sublease rentals.
Of the $166 million present value of net minimum capital lease payments, $122 million was related to obligations assumed by United States Steel under the Financial Matters Agreement.
Of the $363 million total minimum operating lease payments, $13 million was assumed by United States Steel under the Financial Matters Agreement.
During 2003, Marathon purchased two LNG tankers which were previously leased.
A $17 million charge was recorded on the termination of the operating leases.
These tankers are used to transport LNG from Kenai, Alaska to Tokyo, Japan.
Operating lease rental expense was:
## Table 1 ##
28.
Contingencies and Commitments Marathon is the subject of, or party to, a number of pending or threatened legal actions, contingencies and commitments involving a variety of matters, including laws and regulations relating to the environment.
Certain of these matters are discussed below.
The ultimate resolution of these contingencies could, individually or in the aggregate, be material to Marathon’s consolidated financial statements.
However, management believes that Marathon will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably.
Environmental matters – Marathon is subject to federal, state, local and foreign laws and regulations relating to the environment.
These laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites.
Penalties may be imposed for noncompliance.
At December 31, 2004 and 2003, accrued liabilities for remediation totaled $110 million and $117 million.
It is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed.
Receivables for recoverable costs from certain states, under programs to assist companies in cleanup efforts related to underground storage tanks at retail marketing outlets, were $65 million and $86 million at December 31, 2004 and 2003, respectively
In July, 2002, Marathon received a Notice of Enforcement from the State of Texas for alleged excess air emissions from its Yates Gas Plant and production operations on its Kloh lease.
A settlement of this matter was finalized in 2004, with Marathon and its co-owners paying a civil penalty of $74,000 and the donation of land as a Supplemental Environmental Project in lieu of a further penalty of $74,000.
Marathon is owner of a 38% interest in the facilities.
In May, 2003, Marathon received a Consolidated Compliance Order & Notice or Potential Penalty from the State of Louisiana for alleged various air permit regulatory violations.
This matter was settled for a civil penalty of $148,628 and awaits formal closure with the State.
In August of 2004, the West Virginia Department of Environmental Protection (‘‘WVDEP’’) submitted a draft consent order to MAP regarding MAP’s handling of alleged hazardous waste generated from tank cleanings in the State of West Virginia.
The proposed order seeks a civil penalty of $337,900.
MAP has met with the WVDEP and discussions are ongoing in an attempt to resolve this matter.
Item 4.
Submission of Matters to a Vote of Security Holders Not applicable.
PART II Item 5.
Market for Registrant’s Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities The principal market on which the Company’s common stock is traded is the New York Stock Exchange.
The Company’s common stock is also traded on the Chicago Stock Exchange and the Pacific Exchange.
Information concerning the high and low sales prices for the common stock as reported in the consolidated transaction reporting system and the frequency and amount of dividends paid during the last two years is set forth in ‘‘Selected Quarterly Financial Data (Unaudited)’’ on page F-41.
As of January 31, 2005, there were 58,340 registered holders of Marathon common stock.
The Board of Directors intends to declare and pay dividends on Marathon common stock based on the financial condition and results of operations of Marathon Oil Corporation, although it has no obligation under Delaware law or the Restated Certificate of Incorporation to do so.
In determining its dividend policy with respect to Marathon common stock, the Board will rely on the financial statements of Marathon.
Dividends on Marathon common stock are limited to legally available funds of Marathon.
The following table provides information about purchases by Marathon and its affiliated purchaser during the fourth quarter ended December 31, 2004 of equity securities that are registered by Marathon pursuant to Section 12 of the Exchange Act: ISSUER PURCHASES OF EQUITY SECURITIES
## Table 2 ##
(1) 42,749 shares were repurchased in open-market transactions under the Marathon Oil Corporation Dividend Reinvestment and Direct Stock Purchase Plan (the ‘‘Plan’’) by the administrator of the Plan.
Stock needed to meet the requirements of the Plan are either purchased in the open market or issued directly by Marathon.
(2) 2,936 shares of restricted stock were delivered by employees to Marathon, upon vesting, to satisfy tax withholding requirements.
Item 6.
Selected Financial Data See page F-49 through F-51.
Consolidated Statement of Stockholders’ Equity
## Table 3 ##
The accompanying notes are an integral part of these consolidated financial statements

<table><tr><td><i>(In millions)</i></td><td>CapitalLeaseObligations</td><td>Operating Lease Obligations</td></tr><tr><td>2005</td><td>$20</td><td>$95</td></tr><tr><td>2006</td><td>26</td><td>80</td></tr><tr><td>2007</td><td>34</td><td>53</td></tr><tr><td>2008</td><td>26</td><td>43</td></tr><tr><td>2009</td><td>26</td><td>26</td></tr><tr><td>Later years</td><td>101</td><td>120</td></tr><tr><td>Sublease rentals</td><td>–</td><td>-54</td></tr><tr><td>Total minimum lease payments</td><td>233</td><td>$363</td></tr><tr><td>Less imputed interest costs</td><td>67</td><td></td></tr><tr><td>Present value of net minimum lease payments included in long-term debt</td><td>$166</td><td></td></tr></table>
<table><tr><td><i>(In millions)</i></td><td rowspan="2">2004 $168(a)</td><td rowspan="2">2003 $182(a)</td><td rowspan="2">2002 $196(a)</td></tr><tr><td>Minimum rental</td></tr><tr><td>Contingent rental</td><td>15</td><td>15</td><td>13</td></tr><tr><td>Sublease rentals</td><td>-12</td><td>-9</td><td>-11</td></tr><tr><td>Net rental expense</td><td>$171</td><td>$188</td><td>$198</td></tr></table>
<table><tr><td></td><td>(a)</td><td>(b)</td><td>(c)</td><td>(d)</td></tr><tr><td>Period</td><td>Total Number of Shares Purchased<sup>-1-2</sup></td><td>Average Price Paid per Share</td><td>Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs<sup>-1</sup></td><td>Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs</td></tr><tr><td>10/01/04 – 10/31/04</td><td>6,015</td><td>$40.51</td><td>N/A</td><td>N/A</td></tr><tr><td>11/01/04 – 11/30/04</td><td>5,145</td><td>$38.94</td><td>N/A</td><td>N/A</td></tr><tr><td>12/01/04 – 12/31/04</td><td>34,526</td><td>$37.07</td><td>N/A</td><td>N/A</td></tr><tr><td>Total:</td><td>45,686</td><td>$37.73</td><td>N/A</td><td>N/A</td></tr></table>
<table><tr><td> </td><td colspan="3">Stockholder's Equity</td><td colspan="3">Shares in thousands</td></tr><tr><td><i>(Dollars in millions) </i> </td><td>2004</td><td>2003</td><td>2002</td><td>2004</td><td>2003</td><td>2002</td></tr><tr><td> Common stock:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$312</td><td>$312</td><td>$312</td><td>312,166</td><td>312,166</td><td>312,166</td></tr><tr><td>Issuance<sup>(a)</sup></td><td>35</td><td>–</td><td>–</td><td>34,552</td><td>–</td><td>–</td></tr><tr><td>Balance at end of year</td><td>$347</td><td>$312</td><td>$312</td><td>346,718</td><td>312,166</td><td>312,166</td></tr><tr><td> Treasury common stock, at cost:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$-46</td><td>$-60</td><td>$-74</td><td>-1,744</td><td>-2,293</td><td>-2,771</td></tr><tr><td>Repurchased</td><td>-4</td><td>-6</td><td>-7</td><td>-124</td><td>-219</td><td>-297</td></tr><tr><td>Reissued for:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Employee stock plans</td><td>49</td><td>20</td><td>19</td><td>1,838</td><td>768</td><td>727</td></tr><tr><td>Non-employee directors deferred compensation plan</td><td>–</td><td>–</td><td>2</td><td>–</td><td>–</td><td>48</td></tr><tr><td>Balance at end of year</td><td>$-1</td><td>$-46</td><td>$-60</td><td>-30</td><td>-1,744</td><td>-2,293</td></tr><tr><td> </td><td></td><td></td><td></td><td colspan="3">Comprehensive Income</td></tr><tr><td>  </td><td></td><td></td><td></td><td>2004</td><td>2003</td><td>2002</td></tr><tr><td> Additional paid-in capital:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$3,033</td><td>$3,032</td><td>$3,035</td><td></td><td></td><td></td></tr><tr><td>Common stock issuance<sup>(a)</sup></td><td>970</td><td>–</td><td>–</td><td></td><td></td><td></td></tr><tr><td>Treasury common stock reissued</td><td>25</td><td>1</td><td>-3</td><td></td><td></td><td></td></tr><tr><td>Balance at end of year</td><td>$4,028</td><td>$3,033</td><td>$3,032</td><td></td><td></td><td></td></tr><tr><td> Unearned compensation:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$-9</td><td>$-7</td><td>$-10</td><td></td><td></td><td></td></tr><tr><td>Change during year</td><td>–</td><td>-2</td><td>3</td><td></td><td></td><td></td></tr><tr><td>Balance at end of year</td><td>$-9</td><td>$-9</td><td>$-7</td><td></td><td></td><td></td></tr><tr><td> Retained earnings:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$2,897</td><td>$1,874</td><td>$1,643</td><td></td><td></td><td></td></tr><tr><td>Net income</td><td>1,261</td><td>1,321</td><td>516</td><td>$1,261</td><td>$1,321</td><td>$516</td></tr><tr><td>Dividends paid: (per share: $1.03 in 2004, $.96 in 2003 and $.92 in 2002)</td><td>-348</td><td>-298</td><td>-285</td><td></td><td></td><td></td></tr><tr><td>Balance at end of year</td><td>$3,810</td><td>$2,897</td><td>$1,874</td><td></td><td></td><td></td></tr><tr><td> Accumulated other comprehensive income (loss)<sup>(b)</sup> :</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Minimum pension liability adjustments:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$-93</td><td>$-47</td><td>$-14</td><td></td><td></td><td></td></tr><tr><td>Changes during year</td><td>22</td><td>-46</td><td>-33</td><td>22</td><td>-46</td><td>-33</td></tr><tr><td>Balance at end of year</td><td>$-71</td><td>$-93</td><td>$-47</td><td></td><td></td><td></td></tr><tr><td>Foreign currency translation adjustments:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$-4</td><td>$-1</td><td>$-3</td><td></td><td></td><td></td></tr><tr><td>Changes during year</td><td>-1</td><td>-3</td><td>2</td><td>-1</td><td>-3</td><td>2</td></tr><tr><td>Balance at end of year</td><td>$-5</td><td>$-4</td><td>$-1</td><td></td><td></td><td></td></tr><tr><td> Deferred gains (losses) on derivative instruments:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at beginning of year</td><td>$-15</td><td>$-21</td><td>$51</td><td></td><td></td><td></td></tr><tr><td>Reclassification of the cumulative effect adjustment into income</td><td>-3</td><td>-3</td><td>-1</td><td>-3</td><td>-3</td><td>-1</td></tr><tr><td>Changes in fair value</td><td>-82</td><td>-50</td><td>-36</td><td>-82</td><td>-50</td><td>-36</td></tr><tr><td>Reclassification to income</td><td>112</td><td>59</td><td>-35</td><td>112</td><td>59</td><td>-35</td></tr><tr><td>Balance at end of year</td><td>$12</td><td>$-15</td><td>$-21</td><td></td><td></td><td></td></tr><tr><td>Total balances at end of year</td><td>$-64</td><td>$-112</td><td>$-69</td><td></td><td></td><td></td></tr><tr><td> Total comprehensive income</td><td></td><td></td><td></td><td>$1,309</td><td>$1,278</td><td>$413</td></tr><tr><td> Total stockholders' equity</td><td>$8,111</td><td>$6,075</td><td>$5,082</td><td></td><td></td><td></td></tr><tr><td colspan="7">(a) On March 31, 2004, Marathon issued 34,500,000 shares of its common stock at the offering price of $30 per share and recorded net proceeds of $1.004 billion.</td></tr><tr><td><sup>(b)</sup>Related income tax provision (credit) on changes and reclassifications during the year:</td><td>2004</td><td>2003</td><td>2002</td><td></td><td></td><td></td></tr><tr><td>Minimum pension liability adjustments</td><td>$3</td><td>$-25</td><td>$-18</td><td></td><td></td><td></td></tr><tr><td>Foreign currency translation adjustments</td><td>–</td><td>-2</td><td>2</td><td></td><td></td><td></td></tr><tr><td>Net deferred gains (losses) on derivative instruments</td><td>9</td><td>3</td><td>-39</td><td></td><td></td><td></td></tr></table>

Question: for the periods 10/01/04 2013 10/31/04 and 11/01/04 2013 11/30/04 what were the average price paid per share?
Answer: 39.725