At December $31,2020,$ the Riley Company had $500,000$ shares of common stock issued and outstanding, $400,000$ of which had been issued and outstanding throughout the year and $100,000$ of which were issued on October $1,2020.$ The net income for the year ended December $31,2020,$ was $$1,360,000.$ The $2020$ earnings per common share, rounded to the nearest penny would be

$$3\mathrm{.}20.$

$$3\mathrm{.}40.$

$$3\mathrm{.}03.$

$$2\mathrm{.}69.$