Patterson Research Has 200 Shares of 10%, $107 Par Value

Multiple Choice

Patterson Research has 200 shares of 10%, $107 par value, preferred stock, and 2,000 shares of $17 par value common stock outstanding. Total paid-in capital is $50,000, and retained earnings are $0. There are one-year dividends in arrears on preferred stock. The book value per share on common stock is: (Round your answer to the nearest cent.)

A) $13.23.
B) $23.93.
C) $25.00.
D) $22.73.