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. $fill in the blank 1 per share