During the Current Year, a Corporation Has 2,000 Shares of 10

During the current year, a corporation has 2,000 shares of 10%, $50 par, cumulative preferred stock outstanding and 6,000 shares of $10 par common stock outstanding. The company has net income of $53,000 and paid all preferred dividends as usual. Compute earnings per share. Round all amounts to nearest cent.

A) $7.17
B) $8.83
C) $5.38
D) $6.63