Diamond Drill Inc

Multiple Choice

Diamond Drill Inc. has 150,000 shares and 15,000 warrants outstanding. A warrant holder can purchase a new share of stock for five warrants and $5.00 per warrant. The stock is currently selling for $27 per share.
-Refer to the above scenario.What would your gain per share be from exercising the warrants, assuming all are exercised?

A) $0.00 per share
B) $1.96 per share
C) $2.00 per share
D) $25.00 per share
E) $27.00 per share