Kuhns Corp. has 200,000 shares of preferred stock outstanding that is cumulative and 100,000 common stock outstanding. The preferred dividend is $6.10 per share and has not been paid for 3 years. If Kuhns earned $1.90 million this year, what could be the maximum payment to the preferred stockholders on a per share basis? (Round your answer to 2 decimal places.)

A) $8.40 per share

B) $11.75 per share

C) $11.00 per share

D) $9.50 per share