Ronald Company reported a net income of $840,000 for the year 2013. During the year, 10,000 shares of $100 par, 11% preferred stock and 250,000 shares of common stock were outstanding- Total liabilities and stockholders equity amounted to $18,000,000 and total liabilities amounted to $8,000,000. Calculate the book value per share.

A. $68 B. $28 C. $36 D. $42

Show your work; points will be awarded only if process to solve is shown.