James Company has 1400 shares of $100 par preferred stock, which were issued at par. It also has 29,000 shares of common stock outstanding, and its total stockholders' equity equals $615,600. The book value per common share is:
A. $100.00.
B. $16.40.
C. $15.64.
D. $21.23.
E. $20.25.
Answer: B
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