Golden Trust has the following stockholders’ equity:
|Perferred Stock, 7%, $13 par, 5,000 shares authorized, 3,500 shares issues||$45,500|
|Common Stock, $0.30 par, 1,400,000 shares authorized and issued||420,000|
|Paid-in capital in excress of par-common||325,000|
|Total paid-in capital||790,500|
|Total stockholders’ equity||$1,050,500|
Golden has not declared preferred dividends for five years (including the current year).
Compute the book value per share of Golden’s preferred and common stock.