Trenton Company has provided the following information:

Net income, $300,000;

Preferred shares issued, 6,600;

Weighted average number of shares of common stock issued, 24,600;

Cash dividends declared and paid on common stock, $36,000;

Market price per share, $42;

Weighted average number of treasury shares of common stock, 4,600.

What is Trenton's earnings per share?

$12.20.

$15.00.

$8.33.

$10.27.