Brown Fashions Inc.'s December 31, 2008 balance sheet showed total common equity of $4,050,000 and 200,000 shares of stock outstanding. During 2008, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/08, assuming no common stock was either issued or retired during 2008?

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The Answer of Brown Fashions Inc.'s December 31, 2008 balance sheet showed total common equity of $4,050,000 and 200,000 shares of stock outstanding. During 2008, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/08, assuming no common stock was either issued or retired during 2008?