He equity section of the balance sheet of the Guts Company on December 31, 2010 shows following items: 6% Cumulative preference share capital, P100 par value (liquidation value, P115 per share); Authorized, 6,000 shares; issued, 4,000 shares; in treasury, 600 shares P400,000 Ordinary share capital, P100 par value, authorized, 20,000 shares; issued and outstanding, 8,000 shares 800,000 Share premium – preference shares 150,000 Share premium – ordinary shares 165,000 Retained earnings 458,600 Reserve for bond retirement 320,000 Treasury shares - preference, at cost 84,000 The book value per share of ordinary is