Maccarone Incorporated had earnings of $1,500,000 last year. On average, 1 million shares were outstanding during the year. Had all holders of the company's options exchanged them for stock at the beginning of the year, there would have been 1,250,000 shares outstanding on average.

Reference: Ref 6-2

What was Maccarone's primary earnings per share (EPS) last year?

Group of answer choices

A. $1.60.

B. $1.50.

C. $1.20.

D. $1.28.