Barbur, Inc. reported net income of $14.6625 million. During the year the average number of common shares outstanding was 3.45 million. The price of a share of common stock at the end of the year was $5. There were 580,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The EPS is approximately:

Multiple Choice

• $4.01.

• $4.25.

• $4.11.

• $0.23.