Velcraft Company has 20,000,000 shares of common stockauthorized, but to date, has only 12,000,000 shares outstanding,eash with a $1.00 par value. the company has $24,000,000 inadditional paid in capital and retained earings are$96,000,000. what is Velcraft's current book value pershare?

a. $1.00

b. $ 3.00

c. $ 11.00

d. $ 6.60

e $ 9.00