Stockholders equity:
6% preferred stock, $100 par value, .............................................$20,000,000
500,000 shares authorized.
Common stock, $10 par value,.......................................................$16,000,000
3,000,000 shares authorized
Additional paid-in capital:
Preferred stock............................................... $400,000
Common stock................................................$25,600,000 $ 26,000,000
Retained earnings.............................................................................$4,500,000
Total stockholders’ equity...............................................................$66,500,000
What is the market price of the common stock?
What is the book value per share of common stock assuming that dividends are one year in arrears?