Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1: 8.54 cumulative preferred stock, $100 par value; authorized, 50,000 shares; issued and outstanding, 25,000 shares $ 2,500,000 Common stock, $5 par value; authorized, 660,000 shares; issued and outstanding, 396,000 shares $ 1,980,000 Additional paid-in capital: preferred stock $ 50,000 Additional paid-in capital: common stock $ 3,100,000 Retained earnings $ 1,080,000 Dividends have been declared and paid for Year 1 The book value per share of common stock is: Multiple Choice $15.56 51283 692