The stockholders’ equity section of Axel Company’s balance sheet follows. The preferred stock’s call price is $30. Determine the book value per share of the common stock.

Preferred stock—5% cumulative, $10 par value, 10,000 shares authorized, issued and outstanding  

$100,000

Common stock—$5 par value, 100,000 shares authorized, 75,000 shares issued and outstanding .

375,000

Retained earnings  

445,000

Total stockholders’ equity

$920,000