Below is the stockholders’ equity section of Picado Corporation’s balance sheet. Determine the book value per share for both the preferred and the common stock.

Contributed capital

Preferred stock, $100 per share, 6 percent cumulative, 20,000 shares

authorized, 400 shares issued and outstanding* ……………………. $ 40,000

Common stock, $5 par value, 200,000 shares authorized, 20,000 shares

issued, 18,000 shares outstanding ………………………………….. 100,000

Additional paid-in capital ………………………………………….   56,000

Total contributed capital …………………………………………... $196,000

Retained earnings …………………………………………………..  190,000

Total contributed capital and retained earnings …………………… $386,000

Less: Treasury stock, common (2,000 shares at cost) ……………..  30,000

Total stockholders’ equity ………………………………………… $356,000

*The preferred stock is callable at $105 per share, and one year’s dividends are in arrears.