Granada Corporation has net assets of N600,000 and contributed capital of N180,000. The corporation has 30,000 shares of common stock outstanding with no preferred stock. This suggest that the corporation has?

A.

A book value of N14 per share

B.

A book value of N20 per share

C.

A deficit of N420,000

D.

Retained earnings of N600,000

Correct answer is B

No explanation has been provided for this answer.