Art purchased 2,500 shares of Delta stock. His purchase represents 10 percent ownership in the firm. His shares have increased in value from the $12 a share he originally paid to today's market value of $13 a share. Assume Delta goes bankrupt and owes $450,000 more in debts than the firm can pay after liquidating all of its assets. What is the maximum loss per share Art will incur on this investment?

1. $0 / share
2. $12 / share
3. $12.5 / share computed as ($12+$13) / 2
4. $13 / share
5. $18 / share, computed as (10%x$450,000) / 2500 shared