The stockholders’ equity section of Montel Company’s balance sheet follows. This year’s dividends on preferred stock have been paid and no preferred dividends are in arrears. Determine the book value per share of the common stock.

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Preferred stock-5% cumulative, $10 par value, 20,000 shares authorized, issued, and outstanding... Common stock-$5 par value, 200,000 shares authorized, 150,000 shares issued and outstanding. Retained earnings. Total stockholders' equity $ 200,000 750,000 900,000 $1,850,000