Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 4.0% cumulative preferred stock, $100 par value; authorized, 32,000 shares; issued and outstanding, 16,000 shares $ 1,600,000 Common stock, $5 par value; authorized, 480,000 shares; issued and outstanding, 288,000 shares $ 1,440,000 Additional paid-in capital: preferred stock $ 160,000 Additional paid-in capital: common stock $ 2,200,000 Retained earnings $ 990,000 Dividends have been declared and paid for Year 1. The book value per share of common stock is: