Jennifer Corporation has issued 300,000 shares of $3 par value common stock. It is authorized to issue 600,000 shares. The paid-in capital in excess of par value on the common stock is $380,000. The corporation has reacquired 15,000 shares of common stock at a cost of $50,000 and is currently holding those shares. The corporation also has 4,000 shares issued and outstanding of 8%, $100 par value preferred stock. It is authorized to issue 10,000 shares. The paid-in capital in excess of par value on the preferred stock is $97,000. Retained earnings is $610,000. Use the information for Jennifer Corporation to compute the company's book value per common share assuming the company has 2 years of dividends in arrears and the preferred stock does not carry a call provision. Your answer should be rounded to 2 decimal places and not include any dollar signs.