10 During 2021, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $300,000 and $150,000 to common and preferred shareholders, respectively, during 2021. On January 1, 2020, Angel issued $2,000,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares. Angel's net income for the year ended December 31, 2021, was $6 million. The income tax rate is 20%. What is Angel's basic earnings per share for 2021, rounded to the nearest cent?

A. $5.29. B. $5.57. C. $6.50. D. None of these answer choices are correct.