A company raises $50$m of capital through an ordinary share issue. Shares were sold at $5$ each. Its before tax profit was $2$million. Corporation tax at $30\%$ is payable on profits.

What is the earnings per share for the company?

Question $7$Select one:

a$.$

$16$ pence

b$.$

$44$ pence

c$.$

$20$ pence

d$.$

$14$ pence