Based on the following financial information from the 2016 annual report of Atlantis Company, what was the fully diluted earnings per share for 2016 financial year ended on December 31, 2016?

Common Stock:

Shares outstanding 31 Dec, 2015: 90 million

New shares issued 1 April, 2016: 10 million

Shares outstanding 31 Dec, 2016: 100 million

Preferred Stock:

$10 par value, 10% dividend rate per annum, convertible into 2 shares of common stock per preferred stock, shares outstanding for the whole 2016: 50 million

Preferred stock dividends paid in 2016: $50 million

Net income in 2016: $350 million

a.

$1.77

b.

$1.52

c.

$1.50

d.

$2.03