Hunter Manufacturing Inc

Hunter Manufacturing Inc.'s December 31, 2012, balance sheet showed total common equity of $2, 050, 000 and 100, 000 shares of stock outstanding.During 2013, Hunter had $250, 000 of net income, and it paid out $100, 000 as dividends.What was the book value per share at 12/31/13, assuming that Hunter neither issued nor retired any common stock during 2013?

A) $20.90
B) $22.00
C) $23.10
D) $24.26
E) $25.47