Botanical Gardens Nursery Has 7,500 Shares of Stock Outstanding at a Market

Botanical Gardens Nursery has 7,500 shares of stock outstanding at a market price of $18 a share.The earnings per share are $1.23.The firm has total assets of $384,000 and total liabilities of $146,000.Today, the firm is paying a quarterly cash dividend of $.22 a share.What will be the earnings per share after the dividend is paid if the tax rate on dividends is 15 percent?

A) $1.01
B) $1.04
C) $1.23
D) $1.17
E) $1.20