Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1:

5.0% cumulative preferred stock, $100 par value; authorized, 48,000 shares; issued and outstanding, 24,000 shares	$ 2,400,000
Common stock, $4 par value; authorized, 640,000 shares; issued and outstanding, 384,000 shares	$ 1,536,000
Additional paid-in capital: preferred stock	$ 48,000
Additional paid-in capital: common stock	$ 3,000,000
Retained earnings	$ 1,070,000

Dividends have been declared and paid for Year 1.

The book value per share of common stock is