By the principle of calorimetry, the heat lost by the hot metal block equals the heat gained by the water together with the copper calorimeter.
Data: mass of metal $$m = 0.20 \, \mathrm{kg}$$, cooling from $$150 \, \mathrm{^\circ C}$$ to $$40 \, \mathrm{^\circ C}$$; volume of water $$150 \, \mathrm{cm^3}$$, so mass of water $$m_w = 0.150 \, \mathrm{kg}$$; water equivalent of the calorimeter $$w = 0.025 \, \mathrm{kg}$$; the water and calorimeter both warm from $$27 \, \mathrm{^\circ C}$$ to $$40 \, \mathrm{^\circ C}$$. Take $$s_w = 4186 \, \mathrm{J\,kg^{-1}\,K^{-1}}$$.
The 'water equivalent' means the calorimeter absorbs heat just like $$0.025 \, \mathrm{kg}$$ of water, so the water and calorimeter together behave as an effective mass
$$m_w + w = 0.150 + 0.025 = 0.175 \, \mathrm{kg}$$
of water.
Heat gained by water and calorimeter:
$$Q_{\mathrm{gained}} = (m_w + w)\,s_w\,(40 - 27) = 0.175 \times 4186 \times 13 \approx 9523 \, \mathrm{J}.$$
Heat lost by the metal block:
$$Q_{\mathrm{lost}} = m\,s\,(150 - 40) = 0.20 \times s \times 110 = 22\,s.$$
Setting $$Q_{\mathrm{lost}} = Q_{\mathrm{gained}}$$:
$$22\,s = 9523 \quad\Rightarrow\quad s = \frac{9523}{22} \approx 433 \, \mathrm{J\,kg^{-1}\,K^{-1}}.$$
So the specific heat of the metal is about $$0.43 \, \mathrm{J\,g^{-1}\,K^{-1}}$$ ($$\approx 433 \, \mathrm{J\,kg^{-1}\,K^{-1}}$$).
Effect of heat losses. If heat losses to the surroundings are not negligible, then part of the heat given out by the metal escapes to the surroundings instead of going into the water. The water and calorimeter therefore receive less heat and reach a lower final temperature than they otherwise would. Using this lower final temperature in the calculation makes $$Q_{\mathrm{gained}}$$ — and hence the computed $$s$$ — come out smaller. Therefore the calculated value is smaller (an underestimate) than the actual specific heat of the metal.