Reference no: EM133187300
Question - Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1:
5.0% cumulative preferred stock, $100 par value; authorized, 48,000 shares; issued and outstanding, 24,000 shares $2,400,000
Common stock, $4 par value; authorized, 640,000 shares; issued and outstanding, 384,000 shares $1,536,000
Additional paid-in capital: preferred stock $48,000
Additional paid-in capital: common stock $3,000,000
Retained earnings $1,070,000
Dividends have been declared and paid for Year 1.
Required - Determine the book value per share of common stock?
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