Information concerning the capital structure of Shepherd Corporation follows: December 31 2020 2012 Common shares outstanding 100,000 shares 100.000 shares Convertible preferred shares outstanding 10,000 shares 10,000 shares 9% convertible bonds $2,000,000 $2,000,000 During 2020. Shepherd paid dividends of $1.00 per common share and $2.50 per preferred share. The preferred shares are non- cumulative, and convertible into 20.000 common shares. The 9% convertible bonds are convertible into 50,000 common shares. Net income for calendar 2020 was $500,000. Assume the income tax rate is 30%. Basic earnings per share for 2020 is During 2020, Shepherd paid dividends of $1.00 per common share and $2.50 per preferred share. The preferred shares are non- cumulative, and convertible into 20,000 common shares. The 9% convertible bonds are convertible into 50,000 common shares. Net income for calendar 2020 was $500,000. Assume the income tax rate is 30%. Basic earnings per share for 2020 is O $3.33. $3.65 O $4.75 O $5.00