JR Company reports the following information as of 12/31/05

9% cumulative preferred stock. Par value $6 and

Liquidation value $8; 20,000 shares authorized and

5,000 shares outstanding. $30.000

Common Stock - authorized 100,000 and 80,000

Outstanding; $1 par value $80,000

Additional paid-in capital $800,000

Retained earnings $450,000

The book value per share of common stock is