Program Corporation owns 70% of Solution Company. Selected financial data for each for the current year follows:
Program Corporation:
Internally generated net income $125,000
Common shares outstanding 100,000
Solution Company:
Net income (adjusted for intercompany profits) $ 50,000
Common shares outstanding 10,000
Consolidated basic earnings per share (BEPS) is (round to the nearest cent):

a. $1.25

b. $1.64

c. $1.60

d. $1.59