A company has 200,000 shares of authorized common stock and 40,000 shares outstanding on January 1, Year One. The company issues 10,000 more shares of common stock on April 1 and another 25,000 shares on July 1. Net income for the year is reported as $600,000. What is the earnings per share?

Group of answer choices

$8

$10

$12

$13

$7