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, 30,000 shares; issued and outstanding, 15,000 shares	$ 1,500,000
Common stock, $4 par value; authorized, 460,000 shares; issued and outstanding, 276,000 shares	$ 1,104,000
Additional paid-in capital: preferred stock	$ 120,000
Additional paid-in capital: common stock	$ 2,100,000
Retained earnings	$ 980,000

Dividends have been declared and paid for Year 1.

The book value per share of common stock is:

Multiple Choice

• $15.16.

• $11.61.

• $15.59.

• $6.67