Ron's Rodents Co. has total assets of $3.5 million, total short- and long-term debt of $2.4 million, and $380,000 worth of 7% preferred stock outstanding. What is the firm's total book value? What would its book value per share be if the firm had 100,000 shares of common stock outstanding?

The firm's total book value is? (Round o the nearest dollar)

CH 6 Q2