ACY FOUR Limited ("ACY FOUR") had 2,000 ordinary shares ($1 par value each), and 1,000 preference shares ($1 par value each) issued. No new shares were issued in the current year. Each preference share can be converted into 1 ordinary share at the discretion of the holders of the preference shares. Cash dividends of $10 shall be paid to each preference share every year. In the current year, cash dividends of $12,000 in total were declared and paid to the all the shareholders. Net income of $130,000 was earned in the year. Retained earnings were $500,000 at the beginning of the year. Question Which one of below is the basic earnings per share? Select one: A. $65 B. $60 C. $59 D. $43.3