Elk Corp. has the following amounts in the Stockholders' Equity category of the balance sheet at December 31, 2017: Preferred Stock, $100 par, 8%, noncumulative (liquidation value of $110 per share) $100,000 Paid-In Capital-Preferred 54,000 Common Stock, $5 par 360,000 Paid-In Capital-Common 40,000 Retained Earnings 244,000 Required: Determine the book value per share of the Elk Corp. stock. Round your answer to the nearest cent.