Calculate book value per share based on the information presented below. Preferred stock ($100 par value) $5,000,000 50,000 shares authorized 50,000 shares outstanding Common stock ($1 par value) $1,200,000 1,250,000 shares authorized 1,200,000 shares outstanding $18,000,000 Additional paid in capital Retained earnings $23,000,000 Less: Treasury stock at cost (2,000,000) $16.00 $35.17 $33.50 $32.16