1. JetNew Corp.'s balance sheet reported the following shareholders' equity as of December 31, 2020:

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

(1) Total Preferred Shareholders Equity (2%)

(2) Book value per share of Common Shares (3%).