Accounts payable $ 64,400 Notes payable 71,400 Long- term
debt 151,200 Common stock ( 30,000 authorized 20,000 shares outstanding)
364,000 Retained earnings 336,000 Total assets $ 987,000 Total liabilities and
equity $ 987,000

Atlantic Coast Resources is concerned about its book value
per share, which is computed by dividing the total equity on the balance sheet
by the number of outstanding shares of stock.

Suppose the firm sold the remaining authorized shares and
netted $ 32.55 per share from the sale. What would be the new book value per
share?