Delaware Trust Has 450 Shares of Common Stock Outstanding at a Market

Delaware Trust has 450 shares of common stock outstanding at a market price per share of $27.Currently,the firm has excess cash of $400,total assets of $28,900,and net income of $1,320.The firm has decided to pay out all of its excess cash as a cash dividend.What will the earnings per share be after this dividend is paid?

A) $2.69
B) $2.86
C) $2.93
D) $3.07
E) $3.24