10. ABC Co.'s reported this shareholders' equity at December 31, 2020: Preference Share capital, 10%, 20,000 shares P2,000,000 Ordinary Share capital, P100 par 4,000,000 Subscribed ordinary share capital 20,000 shares 2,000,000 Subscription receivable 500,000 Share Premium 1,000,000 Retained Earnings 2,400,000 Treasury ordinary shares - 10,000 at cost 800,000 Dividends on preference shares are in arrears for 2018, 2019 and 2020. IF the preference shares cumulative and nonparticipating, what is the book value per ordinary share? are