An analyst gathers the following information about Meyer, Inc.:

• Meyer has 1,000 shares of 8% cumulative preferred stock outstanding, with a par value of $100 and liquidation value of $110.
• Meyer has 20,000 shares of common stock outstanding, with a par value of $20.
• Meyer had retained earnings at the beginning of the year of $5,000,000.
• Net income for the year was $70,000.
• This year, for the first time in its history, Meyer paid no dividends on preferred or common stock.

a.Calculate the total book value of Meyer's common stock.

Total Book Value =

b.What is the book value per share of Meyer's common stock?(Round your answer to 2 decimal places.)

Book Value Per Share =