At December 31, Sheridan Company has total stockholders' equity of $3,440,000. Included in this total are preferred stock $452,000 and paid-in capital in excess of par-preferred stock $51,600. There are 11,300 shares of $50 par value, 8% cumulative preferred stock outstanding. At year-end, 209,000 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 15.25.) (a) There are no preferred dividends in arrears, and the preferred stock does not have a call price. (b) Preferred dividends are one year in arrears, and the preferred stock has a call price of $60 per share