At Year End, Tangshan China Company Balance Sheet Showed Total

Multiple Choice

At year end, Tangshan China Company balance sheet showed total assets of $60 million, total liabilities (including preferred stock) of $45 million, and 1,000,000 shares of common stock outstanding. If Tangshan could sell its assets for $52.5 million, Tangshan's liquidation value per share of common stock is ________.

A) $15
B) $7.50
C) $52.50
D) $75