The shareholders' equity section of the Jiminy Corporation on December 31, 2023 balance sheet follows: Contributed capital: Preferred shares, cumulative, $3.00, 4,000 shares outstanding liquidation value $48 per share $180,000 Common shares, 50,000 shares outstanding 500,000 Retained earnings/(deficit) (100,000) As of December 31, 2023, there was a total of two years of dividends in arrears on the preferred shares. What is the book value per share of the common shares on December 31, 2023? $8.00 $7.28 $7.52 $10.00