IMA Believer Corps balance sheet reported the following shareholders equity as of December 31, 2016:

Share Capital:
Preferred shares, $100 stated value; $5 cumulative, 10,000 shares authorized, 10,000 issued	$1,000,000
Common shares 200,000 shares authorized, 50,000 shares issued	500,000
Total share capital	$2,500,000
Retained earnings	500,000
Total shareholders equity	$3,000,000

Assuming there are 3 years dividends in arrears (including that of the current year), determine

- preferred equity

- book value per share of common shares