Barbur, Inc. reported net income of $28 million. During the year the average number of common shares outstanding was 4 million. The price of a share of common stock at the end of the year was $5. There were 800,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative.The EPS is approximately:
A. $6.76.
B. $7.00.
C. $0.14.
D. $6.86.
Answer: B
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