At December $31,$ Gorden Corporation has total stockholders' equity of $$3,200,000.$ Included in this total are preferred stock $$500,000$ and paid$-$in capital in excess of par$-$preferred stock $$50,000.$ There are $10,000$ shares of $$50$ par value, $8\%$ cumulative preferred stock outstanding. At year$-$end, $200,000$ shares of common stock are outstanding.

Compute the book value per share of common stock under each of the following assumptions. $($Round answers to $2$ decimal places, eg$.15\mathrm{.}25.)$

$($a$)$ There are no preferred dividends in arrears.

$($b$)$ Preferred dividends are one year in arrears.

$\backslash$table$[[,,($a$),($b$)],[$Book value per share,$$,,$$$5$