$8\mathrm{.}5\%$ cumulative preferred stock, $$100$ par value; authorized, $50,000$ shares; issued and outstanding, $25,000$ shares $ $2,500,000$

Common stock, $$5$ par value; authorized, $660,000$ shares; issued and outstanding, $396,000$ shares $ $1,980,000$

Additional paid$-$in capital: preferred stock $ $50,000$

Additional paid$-$in capital: common stock $ $3,100,000$

Retained earnings $ $1,080,000$

Dividends have been declared and paid for Year $1.$

The book value per share of Grant$$s common stock at the end of Year $1$ equals: