Crane Company had 590000 shares of common stock outstanding on January 1, issued 890000 shares on July 1, and had income applicable to common stock of $2930000 for the year ending December 31, 2018. Earnings per share of common stock for 2018 would be (rounded to the nearest penny)

a. $2.34.

b. $4.97.

c. $3.30.

d. $2.83.