The following information was taken from at set of year end financial statements. Preferred Stock. $10 par, 20,000 shares, no liquidation preference $200.000 Common Stock, par value $.10 Authorized 1,000,000 shares; issued 360,000 shares 36,000 Additional paid- in capital 7,164,000 Retained earnings 2,600,000 Treasury stock, at cost (60,000 shares) (1,800,000) Total Stockholders’ equity $8,200,000 Assume that the company also had $2,000,000 worth of convertible bonds. The bonds are convertible at one $10,000 bond into 500 shares of stock. The stock is currently trading as $32.50 per share. Calculate the book value per to the common shareholders.