Parham, Inc. has no preferred stock outstanding. The company had 40,000 shares of common stock outstanding on January 1 and issued 12,000 additional shares on May 1. If Parhams net income was $200,000, the company should report earnings per share of (to the nearest cent):

Select one:

A. $4.44

B. $5.24

C. $3.85

D. $4.17