Accounting Midterm Exam ACG-2011: Question 67

A company has 725 shares of $50 par value preferred stock outstanding, and the call price of its preferred stock is $64 per share. It also has 29,000 shares of common stock outstanding, and the total value of its stockholders' equity is $1,015,000. The company's book value per common share equals:

	$50.00.
	$32.59.
	$35.00.
	$34.15.
	$33.40.

($1,015,000 – (725 preferred shares × $64))/29,000 common shares = $33.40/common share