Maga Corp.'s shareholders' equity at December 31, 20x1, comprised the following:
6% cumulative preference share, ₱100 par; liquidating value ₱110
per share; authorized, issued, and outstanding 50,000 shares
P5,000,000
Ordinary share, ₱5 par; 1,000,000 shares authorized; issued
and outstanding 400,000 shares
2,000,000
Retained earnings 1,000,000
Dividends on preferred stock have been paid through 20x0 but have not been declared for 20x1.
At December 31, 20x1, Maga's
book value per ordinary share
was _______________