Other information: Net Income for YR$02$ was $$400,$ and Net Income for YR$01$was $$100.$ In May of YR$02$ the

company issued $100$ shares of common stock. In August of YR$02$ the company purchased, as treasury stock,

$20$ preferred shares. Preferred dividends were last declared and paid in YR$00.$ The market price of the common stock

was $$20$ at December $31,$ YR$02.$ At December $31,$ YR$02$ the preferred stock has a market value of $$11$ and a

liquidation value of $$12.$

The book value per share of common stock outstanding at December $31,$ YR$02$ is $($round to nearest penny$)$:

a$.$ $$7\mathrm{.}92$

b$.$ $$8\mathrm{.}25$

c$.$ $$8\mathrm{.}44$

d$.$ $$9\mathrm{.}40$

e$.$ None of the above