In 2020, Sandhill Co. reported a discontinued operations loss of $1180000, net of tax. It declared and paid preferred stock dividends of $125000 and common stock dividends of $375000. During 2020, Sandhill had a weighted average of 500000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by

$1.61.

$2.11.

$1.36.

$2.36.