The Stockholders' Equity Section of a Company's Year-End Balance Sheet

The stockholders' equity section of a company's year-end balance sheet follows:
$\begin{array}{|l|r|r|} \hline \text { Preferred stock, \( \$ 50 \) par value, \( 9 \% \) cumulative and } &\\ \text { nonparticipating, 10,000 shares outstanding } &\$500,000\\ \hline\text { Paid-in capital in excess of par value, preferred stock } &50,000\\ \hline\text { Total capital paid-in by preferred stockholders. } &&\$550,000\\ \hline\text { Common stock, \( \$ 0.50 \) par value, \( 1,500,000 \) shares } &\\\text {outstanding } &\$750,000\\ \hline\text { Paid-in capital in excess of par value, common stock } &150,000\\ \hline\text {Total capital paid-in by common stockholders } &&900,000\\ \hline\text { Total paid-in capital} &&1,450,000\\ \hline\text {Retained earnings } &&1,690,000\\ \hline\text { Total stockholders' equity } &&\$3,140,000\\ \hline\end{array}$

The preferred stock has a call price of $51.50 per share plus dividends in arrears.Only one year of dividends is in arrears.Calculate the book value per (1)preferred share,and (2)common share.