5. Pliable Plastics Inc. issued 50 000 common shares at $100 each. Some years later, in order to raise additional capital, it issued 20 000 Class "A" preferred shares, also at $100 each. The preferred shares were stated to have a redemption price of $100 and were entitled to receive a first dividend of $8 per share. The following year, to raise further funds, the corporation made an issue of bonds, in the sum of $2 000 000, secured by a floating charge on all of its assets. Soon afterward, Pliable Plastics found itself in serious financial difficulties. Although it had substantial assets, these were not readily realizable, and it was unable to pay its debts as they fell due. The directors resolved to sell off the corporation's assets and to wind up the corporation. The sale of the assets realized $7 000 000, and, after paying off its creditors (other than the bondholders), the corporation was left with $5 500 000. How much will each common share receive