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Lawson, Incorporated had 8 , 0 0 0 shares of $ 4 . 2 0 cumulative preferred stock, and 6 0 , 0 0 0

Lawson, Incorporated had 8,000 shares of $4.20 cumulative preferred stock, and 60,000 shares of common stock outstanding throughout the year. During the year, the company declared a dividend of $4.20 per share on its common stock and its income statement showed net income of $550,000. Earnings per share of common stock amounted to (round your answer to two decimal points):
a. $4.20.
b. $8.09.
c. $8.61.
d. $9.17.
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