Hunter Manufacturing Inc.'s December 31, 2021 balance sheet showed total common equity of $2,500,000 and 100,000 shares of stock outstanding. During 2022, Hunter had $400,000 of net income, and it paid out $100,000 as dividends. What was the book value per share on December 31, 2022, assuming that Hunter neither issued nor retired any common stock during 2022?

Group of answer choices

26.50

22.00

28.00

23.00