Marcus Nurseries Inc.'s 2005 balance sheet showed total common equity of $2,250,000, which included $1,550,000 of retained earnings.

Marcus Nurseries Inc.'s 2005 balance sheet showed total common equity of $2,250,000, which included $1,550,000 of retained earnings. The company had 105,000 shares of stock outstanding which sold at a price of $57.25 per share. If the firm had net income of $245,000 in 2006 and paid out $105,000 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?