The following information is necessary to compute the net assets $($stockholders$$ equity$)$ and book value per share of common stock for Rothchild Corporation:

$8\%$ cumulative preferred stock, $$100$ par $ $280,000$

Common stock, $$5$ par, authorized $100,000$ shares, issued $60,000$ shares $300,000$

Additional paid$-$in capital $400,000$

Deficit $($negative amount in retained earnings$)146,800$

Dividends in arrears on preferred stock, $1$ full year $22,400$

Required:

Compute the amount of net assets $($stockholders$\text{'}$ equity$).$

Compute the book value per share of common stock.

Note: Round your answer to $2$ decimal places.

Is book value per share $($answer to part b$)$ the amount common stockholders should expect to receive if Rothchild Corporation were to cease operations and liquidate?