Barbur, Incorporated reported net income of $8.6625 million. During the year the average number of common shares outstanding was 3.15 million. The price of a share of common stock at the end of the year was $5. There were 460,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The EPS IS: Multiple Choice $0.36 $2.51 $2.61