Brown Fashions Inc.'s December 31,2018 balance sheet showed total common equity of $4,050,000 and 165,000 shares of stock outstanding.During 2019,the firm had $450,000 of net income,and it paid out $100,000 as dividends.What was the book value per share at 12/31/19,assuming no common stock was either issued or retired during 2019? (Round your final answer to two decimal places. )

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The book value per share at 12/31/19 is calculated by adding the net income to the total common equity, subtracting the dividends paid, and then dividing by the number of shares outstanding. So, ($4,050,000 + $450,000 - $100,000) / 165,000 = $26.67.