[The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding	$	75,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding		120,000
Retained earnings		320,000
Total stockholders' equity	$	515,000

3. If two years preferred dividends are in arrears at the current date, what is the book value per share of common stock?