The stockholders equity section of a companys year-end balance sheet follows Preferred

Question

The stockholders' equity section of a company's year-end balance sheet follows:

Preferred stock, $100 par value, 9% cumulative and nonparticipating, 5,000 shares outstanding	$500,000
Paid-in capital in excess of par value, preferred stock	50,000
Total capital paid-in by preferred Stockholders ..		$550,000
Common stock, $5 par value, 150,000 shares outstanding .	$750,000
Paid-in capital in excess of par value, common stock ...	150,000
Total capital paid-in by common Stockholders .		900,000
Total paid-in capital		$1,450,000
Retained earnings		1,660,000
Total stockholders equity		$3,110,000

The preferred stock has a call price of $103 per share plus dividends in arrears. Only one year of dividends is in arrears. Calculate the book value per (1) preferred share, and (2) common share.