Reling Company Reports the Following Information as of 12/31/05 -The Book Value Per Share of Preferred Stock Is:
A)$22

Reling Company reports the following information as of 12/31/05
$\begin{array}{ll}\text {\( 10 \% \) cumulative preferred stock, par value \( \$ 10 \) }\\\text { and liquidation value \( \$ 11 ; 20,000 \) shares}\\\text { authorized and issued: } 10,000 \text { shares outstanding } & \$ 100,000 \\\text { Common stock - authorized } 50,000 \text { and } 40,000 & \\\text { outstanding; } \$ 1 \text { par value } & \$ 40,000 \\\text { Additional paid-in capital } & \$ 350,000 \\\text { Retained earnings } & \$ 230,000\end{array}$
-The book value per share of preferred stock is:

A) $22.
B) $20.
C) $11.
D) $10.