Hornet Motors reported $735,000 net income for the current year. Beginning common shares outstanding were 140,000. Hornet also had 10,000, 6% nonconvertible, cumulative, $100 par value preferred shares outstanding for the entire year. No cash dividends were declared but Hornet did declare and distribute a 10% stock dividend on common shares on July 1. Compute basic earnings per share. (Round your answer to the nearest cent.) A. $5.16 B. $4.77 C. $4.38 D. $4.82