Somerset Corporation

At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders’ equity of $4,200,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,500,000 of $10 par value common stock and Preferred Stock account of $100,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $103. Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.

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