Wildhorse Inc. began operations in January $2023$ and reported the following results for each of its $3$ years of operations.

$2023$ $$246,000$ net loss

$202438,000$ net loss

$2025835,000$ net income

At December $31,2025,$ Wildhorse Inc. capital accounts were as follows.

$8\%$ cumulative preferred stock, par value $$100$; authorized, issued, and outstanding $5,400$ shares $$540,000$

Common stock, par value $$1\mathrm{.}00$; authorized $1,000,000$ shares; issued and outstanding $693,000$ shares $$693,000$

Wildhorse Inc. has never paid a cash or stock dividend. There has been no change in the capital accounts since Wildhorse began operations. The state law permits dividends only from retained earnings.

a$.$ Compute the book value of the common stock at December $31,2025.($Round answers to $2$ decimal places, e$.$g$.38\mathrm{.}50.)$

Book value per share $

b$.$ Compute the book value of the common stock at December $31,2025,$ assuming that the preferred stock has a liquidating value of $$105$ per share. $($Round answers to $2$ decimal places, e$.$g$.38\mathrm{.}50.)$

Book value per share $