Washington Enterprises had net income for 2016 of$103,000. Washington had39,000 shares of common stock outstanding at the beginning of the year and43,000 shares of common stock outstanding at the end of the year. There were6,000 shares of preferred stock outstanding all year. During2016, Washington declared and paid preferred dividends of$29,000. What isWashington's earnings pershare? (Round the answer to two decimalplaces.)

A.

$1.72

B.

$2.51

C.

$1.80

D.

$2.40