The shareholders equity of sorrowful Company shows the following balances on December 31, 2014: 10% preference share, cumulative and nonparticipating, P100 par with a liquidation value of P110, 20,000 shares 2,000,000 Ordinary share, P100 par, 30,000 shares 3,000,000 Subscribed ordinary shares 1,000,000 Subscription receivable 600,000 Treasury share, 5,000 ordinary shares at cost 400,000 Share premium 660,000 Accumulated profits and losses 1,580,000 What is the book value per share of ordinary shares, assuming preference dividends are in arrears since 2012?