Information Concerning the Capital Structure of Shepherd Corporation Follows During 2020, Shepherd Paid Dividends of $ 1

Information concerning the capital structure of Shepherd Corporation follows $$\begin{array} { r r } & \text{\underline{December 31} } \\& \text{ } \underline{2020} & \underline{2019} \\ \text{ Common shares outstanding } & \text{100,000 shares } &\text{ 100,000 shares } \\\text{ Convertible preferred shares outstanding } &\text{100,000 shares } &\text{100,000 shares } \\ \text{ 9 \% convertible bonds } & \text{\$ 2,000,000 } & \text{\$ 2,000,000 } \end{array}$$ During 2020, Shepherd paid dividends of $ 1.00 per common share and $ 2.50 per preferred share. The preferred shares are non-cumulative, and convertible into 20,000 common shares. The 9% convertible bonds are convertible into 50,000 common shares. Net income for calendar 2020 was $ 500,000. Assume the income tax rate is 30%. Basic earnings per share for 2020 is

A) $ 3.33.
B) $ 3.65.
C) $ 4.75.
D) $ 5.00.