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

6.5% cumulative preferred stock, $100 par value; authorized, 36,000 shares; issued and outstanding, 18,000 shares$ 1,800,000Common stock, $4 par value; authorized, 520,000 shares; issued and outstanding, 312,000 shares$ 1,248,000Additional paid-in capital: preferred stock$ 90,000Additional paid-in capital: common stock$ 2,400,000Retained earnings$ 1,010,000

Dividends have been declared and paid for Year 1.

The book value per share of common stock is: