On December 31, 2008, the Bennett Company had 120,000 shares of common stock issued and outstanding. Bennett's net income for the year ended December 31, 2009 was $570,000. Bennett had 10,000 shares of $100 par, 8% cumulative preferred stock outstanding throughout 2009. Dividends were not paid to preferred stock in 2009. What is the 2009 basic earnings per share? (Round your answer to 2 decimal places.)

Question 10 options:

a)

$4.37.

b)

$3.57.

c)

$4.77.

d)

$4.08.