At December 31, 2021, George's Flooring Company had 49,000 shares of common stock and 4,200 shares of 11%, $100 par cumulative preferred stock outstanding. No dividends were declared or paid in 2021. Net income was reported as $170,000. What is basic EPS? (Round your answer to 2 decimal places.)

Multiple Choice

$2.53.

$3.47.

$3.20.

$3.79.