Smalley Company has preference and ordinary shares outstanding as follows: S5 preference shares, 40.000 shares @ $100 par value Ordinary shares, 500,000 shares at $10 par value Share premium on ordinary shares Retained earnings S 4.000.000 5.000.000 800.000 1,750,000 Calculate the book value on ordinary shares, assuming preference dividends are cumulative and are currently one year in arrears. (Round your answer to 2 decimal places. Omit the "S" sign in your response.) Book value S