The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.

Balance Sheet (Millions of $)	2021
Assets
Cash and securities		$	4,200
Accounts receivable			17,500
Inventories			20,300
Total current assets		$	42,000
Net plant and equipment			28,000
Total assets		$	70,000
Liabilities and Equity
Accounts payable		$	27,531
Accruals			12,369
Notes payable			5,000
Total current liabilities		$	44,900
Long-term bonds			9,000
Total liabilities		$	53,900
Common stock			3,864
Retained earnings			12,236
Total common equity		$	16,100
Total liabilities and equity		$	70,000
Income Statement (Millions of $)	2021
Net sales		$	112,000
Operating costs except depreciation			104,160
Depreciation			2,240
Earnings before interest and taxes (EBIT)		$	5,600
Less interest			840
Earnings before taxes (EBT)		$	4,760
Taxes (25%)			1,190
Net income		$	3,570
Other data:
Shares outstanding (millions)			500.00
Common dividends (millions of $)		$1,249.50
Int. rate on notes payable & L-T bonds			6%
Federal plus state income tax rate			25%
Year-end stock price			$85.68

What is the firm's book value per share? Do not round your intermediate calculations.

a. $42.20

b. $32.20

c. $29.70

d. $28.00

e. $24.47