Find weighted average number of shares outstanding

Question

Clampitt Corporation had 60,000 shares of common stock outstanding on January 1, 2014. On April 1, 2014, an additional 40,000 shares were issued for cash. No other changes took place in the number of shares outstanding. The weighted average number of shares outstanding for purposes of earnings per share computations is:

1. 70,000.
2. 80,000.
3. 90,000.
4. 92,667.