If a Company Has Common Stock and Preferred Stock Outstanding

If a company has common stock and preferred stock outstanding, book value per share is calculated as:

A) total paid-in capital divided by the number of common shares of stock outstanding.
B) total paid-in capital divided by the number of common shares issued.
C) total stockholders' equity minus preferred equity divided by the number of common shares outstanding.
D) total stockholders' equity minus preferred equity divided by the number of common shares issued.