Coronet Corp.has total stockholders' equity of $7,400,000.The company's outstanding capital stock includes 100,000 shares of $10 par value common stock and 20,000 shares of 6%,$100 par value p

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To find the book value per share of common stock, we first calculate the total value of preferred stock: 20,000 shares * $100 par value = $2,000,000. Subtract this from total equity: $7,400,000 - $2,000,000 = $5,400,000. Divide by the number of common shares: $5,400,000 / 100,000 = $54.