Baku Mart, a chain of hypermarkets, reported net income of $500,000 and paid cash dividends of $160,000 to preferred stockholders for the year-ended December 31, 2019. At the beginning of 2019, Baku had 8,000 shares of common stock outstanding, but the firm issued 3,000 new shares on September 1st, 2019. Given this information, the basic EPS of Baku Mart is closest to: a) $37.78 b) $30.91. c) $42.50