Markus believes that due to changing technology the minimum skill level that his company is requiring for computer-intensive jobs should be increased to include knowledge and experience in higher-level programming applications. these new requirements would be reflected in for various jobs at his company.

Marcus nurseries inc.'s 2005 balance sheet showed total common equity of $2,050,000, which included $1,750,000 of retained earnings. the company had 100,000 shares of stock outstanding which sold at a price of $57.25 per share. if the firm had net income of $250,000 in 2006 and paid out $100,000 as dividends, what would its book value per share be at the end of 2006, assuming that it neither issued nor retired any common stock?