At January 1, 2021, Waterway Corporation had the following share capital:

$2 Preferred shares, noncumulative,
500,000 shares authorized, 14900 shares issued		$610000
Common shares, 1,000,000 shares authorized,
12000 shares issued		250000
		$860000

On October 1, 2021, the company sold an additional 24000 common shares for proceeds of $322000. The corporation earned $171000 during the year. Assuming no dividends were declared or paid in 2021 to either preferred of common shareholders, earnings per share for 2021 would be (Round your answer to 2 decimal places.)

a) $7.84.

b) $7.13.

c) $9.50.

d) $5.58.