Chandler had 7,500 shares of common stock outstanding on January 1, and issued an additional 2,500 shares on June 1. There was no preferred stock, and net income was $124,700. How much is diluted earnings per share for the calendar year?
A. $12.47
B. $13.92
C. $14.25
D. Diluted EPS is not applicable because of the simple capital structure.
E. None of these.