The shareholders' equity section of the balance sheet for Vivitas Stevia Corporation is shown ...

The shareholders' equity section of the balance sheet for Vivitas Stevia Corporation is shown below:

Share capital:
Preferred shares, 10,000 shares authorized,
7,000 shares issued of $3.50 preferred,
redemption value $56 per share   $350,000
Common shares, 50,000 shares authorized,
   18,000 shares issued    180,000
   Total share capital   $530,000
Retained earnings    300,000
   Total share capital   $830,000

Assume there are 2 years' dividends in arrears on the preferred shares, including the current year. the book value per share for Vivitas Stevia common shares is:
A) $21.61
B) $25.50
C) $26.47
D) $26.67