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The following information was drawn from the accounting records of Comcat Company. Net...

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Accounting

The following information was drawn from the accounting records of Comcat Company.

Net income available to common stockholders $ 200,000
Preferred stock outstanding, 10% cumulative $ 40,000
Market price per share of common stock $ 10.00
Common stock outstanding $ 900,000
Retained earnings $ 300,000
Average number of common shares outstanding 100,000 shares
Number of common shares outstanding at end of the accounting period 120,000 shares
Dividends per share on common stock $ 0.50 per share

Based on this information, the companys book value per share is

Multiple Choice

$10.00.

$11.60.

$12.00.

$12.40.

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