On January 1, 2020, Laura Corporation had 18,000 shares of common stock outstanding, and reacquired 2,000 shares on July 1. The weighted average shares of common stock oustanding was 17,000. The company earned net income of $105,500 and paid a cash dividend on its preferred stock of $35,000. What was the basic earnings per share for the year? a. $3.74 b. $4.68 c. $4.14 d. $4.40