Pueblo Corporation Had 100 Shares of Common Stock Issued and Outstanding

Pueblo Corporation had 100 shares of common stock issued and outstanding at December 31,2013.On July 1,2014,Pueblo issued a 10 percent stock dividend.Unexercised stock options to purchase 20 shares of common stock (adjusted for the 2014 stock dividend) at $20 per share were outstanding at the beginning and end of 2014.The average market price of Pueblo's common stock (which was not affected by the stock dividend) was $25 per share during 2014.The ending market price was $40.Net income for the year ended December 31,2014,was $2,200. What was Pueblo's 2014 basic earnings per share,rounded to the nearest cent?

A) $19.30
B) $20.00
C) $20.20
D) $20.96