On January 1, 2020, Moving Company had 1,000,000 shares of $ 1 par value common stock, and 100,000 shares of $ 100 par value, 6% preferred stock outstanding. (The preferred stock is NOT convertible into common stock) On July 1, 2020, Moving Company issued an additional 400,000 shares of common stock, receiving $ 20 per share. No additonal share transactions were made during the year, and thus on December 31, 2020,Moving Company had 1,400000 shares of Common Stock, and 100,0000 shares of Preferred Stock outstanding. During 2020, Moving Company reported Net Income in the amount of $ 3,000,000, declared and paid a total of $ 600,000 of Preferred Dividends, and declared and paid a total of $ 700,000 of Common Stockdividends.

Based on the information provided above, what is the "Basic Earnings Per Share" for Moving Company for the fiscal year ending December 31, 2020?

A.$ 2.00 B.$ 2.50 C.$ 8.50 D.None of the above