77. Firm that earned $20,000 (after tax) had the following securities outstanding all year during which the tax rate was 40%: 20,000 common shares 1,000, 6%, $100 par cumulative nonconvertible preferred shares 2,000, 4%, $50 par cumulative preferred shares, each share convertible into 5 common shares 100, 8%, $1,000 convertible bonds, each convertible into 10 common shares (bonds were issued at face) What is basic EPS? (Rounded to the nearest cent) A. $0.50 B. $0.70 C. $1.00 D. $0.75