Sailor Jerry Co. had 50,000 shares of common stock outstanding on 1/1/2017. On 4/1/2017, the company issued 20,000 shares of common stock. Company also has stock options outstanding that can be exercised for 5,000 common shares at option price of $12 per share. The options were outstanding for the entire year, none were exercised. End-of-year market price of common stock was $13 while average price for the year was $15. Company reported net income of $266,500 for 2017. Basic earnings per share for 2017 is closest to: A) $4.10 B) $3.86 C) $3.81 D) $4.04