On December 31, 2020 and 2019, Bucks Corporation had 105,000 Ordinary Shares issued, 5,000 shares in the treasury, 10,000 shares subscribed and 10,000 5% Preference Shares, cumulative issued, P 100 par value. No dividends were declared in2020 and 2019. Profit for the year 2020was P 900,000. What amount should be reported as basic earnings per share?

a. P8.10

b. P8.00

c. P7.73

d. P8.50