Allard Corporation has $60,000 shares of $2 cumulative preferred stock, and 80,000 shares of $1 par common stock outstanding throughout the year. Net income for the year was $60,000, and Allard declared and distributed a cash dividend of $160 per share on its common stock what was the company's earnings per share of common stock?

a. $75.00

b. $16.00

c.$6

d. $5.60