Hunter Manufacturing Inc.’s December 31, 2020, balance sheet showed total common equity of $3,250,000 and 150,000 shares outstanding. During 2021, Hunter had $950,000 of net income, and it declared $200,000 in dividends. What was the book value per share at December 31, 2021, assuming that Hunter neither issued nor retired any common shares during 2021?
◦
$26.67
◦
$27.00
◦
$28.34
◦
$29.15