Getaway Travel Company reported net income for 2011 in the amount of $50,000. During 2011, Getaway declared and paid $2,000 in cash dividends on its nonconvertible preferred stock. Getaway also paid $10,000 cash dividends on its common stock. Getaway had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on July 1, 2011. A 2-for-1 stock split was granted on July 5, 2011. What is the 2011 basic earnings per share? A. $.56 B. $.53 C. $.42 D. $.47