A corporation with 5,000,000 shares
of publicly listed stock reported total
earnings of $7.20 per share for the
first 9 months of operation. During the
final quarter the number of publicly
listed shares was increased to
10,000,000 shares, and fourth quarter
earnings were reported as $1.25 per
share. What are the average annual
earnings per share based on the
number of shares at the end of the
year?
(A) $1.83
(B) $2.43
(C) $4.85
(D) $8.45
(E) $9.70