The balance sheet of Wireless, Inc., reported the following:

Preferred stock, 9%, $20 par, 1,300 shares authorized, issued and outstanding = 00$2600

Common stock, no-par value, 12,000 shares authorized, 5,300 shares issued =0200,000

Retained earnings =0050,000

Total stockholders equity =$276,000

Assume that wireless has paid preferred dividends for the current year and all prior years (no dividends in arrears).

Requirement

1. Compute the book value per share of the common stock.