Question 6 (4 points)

On January 1, 2017, Alpha Corporation had 50,000 shares of $10 par value common stock outstanding. On July 1, 2017, Alpha issued 30,000 additional shares on July 1, 2017. There is no class of preferred stock. At December 31, 2017, total stockholders’ equity was $4,250,000. Use this information to determine the book value as of end of the FY 2017: (Round your answer to the nearest penny.)