Stellar Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations 2018 $277,000 net loss 2019 $40,000 net loss 2020 $812,000 net income At December 31, 2020, Stellar Inc. capital accounts were as follows. $550,000 8% cumulative preferred stock, par value $100; authorized, issued, and outstanding 5,500 shares Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 708,000 shares $708,000 Stellar Inc. has never paid a cash or stock dividend. There has been no change in the capital accounts since Stellar began operations. The state law permits dividends only from retained earnings. (a) Compute the book value of the common stock at December 31, 2020. (Round answers to 2 decimal places, e.g. $38.50.) Book value per share $ (b) Compute the book value of the common stock at December 31, 2020, assuming that the preferred stock has a liquidating value of $106 per share. (Round answers to 2 decimal places, e.g. $38.50.) Book value per share $