Symons Corporation has provided the following financial data: Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Year 1

Current assets: Cash $225,000 $160,000

Accounts receivable 191,000 180,000

Inventory 96,000 110,000

Prepaid expenses 91,000 80,000

Total current assets 603,000 530,000

Plant and equipment, net 810,000 840,000

Total assets $1,413,000 $1,370,000

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $226,000 $190,000

Accrued liabilities 66,000 70,000

Notes payable, short term 54,000 50,000

Total current liabilities 346,000 310,000

Bonds payable 170,000 170,000

Total liabilities 516,000 480,000

Stockholders' equity:

Common stock, $5 par value 250,000 250,000

Additional paid-in capital-common stock 70,000 70,000

Retained earnings 577,000 570,000

Total stockholders' equity 897,000 890,000

Total liabilities & stockholders' equity $1,413,000 $1,370,000

Income StatementYear 2 For the Year Ended December 31, Year 2

Sales (all on account) $1,260,000

Cost of goods sold 760,000

Gross margin 500,000

Operating expenses 473,429

Net operating income 26,571

Interest expense 13,000

Net income before taxes 13,571

Income taxes (30%) 4,071

Net income $9,500

Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share. The company's book value per share at the end of Year 2 is closest to:

a. $17.94 per share

b. $28.26 per share

c. $0.19 per share

d. $11.54 per share