28. During 2016, XYZ Inc. reported net income of $115,600 and had 200,000 shares of common stock and 1,000 shares ofpreferred stock outstanding for the entire year. XTZ's 10%, $100 par value preferred shares are each convertible into 40 shares of common stock. The tax rate is 40%. What is the basic EPS for XYZ? A. S0.48 B. $ 0.50 C. S0.53 D. S0.55