A company has total assets of $148.50 million, current liabilities of $45 million, and long-term debt of $25.5 million, and $3.5 million of preferred stock outstanding. Each preferred stock pays annual dividend of $1.25. The company has 1.5 million shares of common stock outstanding. What is its book value per share?

$52

$49.67

$69

$99

$15.6