On December 31, Schmid Corporation reports the following amounts in the stockholders' equity section of the balance sheet:

5% Preferred Stock, $5 par $1,000,000

Common Stock,$10 par $4,000,000

Paid-in Capital in Excess of Par-Common 5,000,000

Retained Earnings 4,000,000

Treasury Stock, 50,000 shares (200,000)

There are no preferred dividends in arrears. What is the book value per share? (Round your final answer to the nearest cent.)