3. Hartly Inc. is a manufacturer of custom motorcycle and automotive parts. The company is publicly traded with its common shares trading at $8.75/share.

In 2020, the company earned a net income of $975,250 and had an average shareholders equity of $3,457,000. During 2020, the company had shareholders equity consisting of 575,000 common shares and 125,000, $1 non-voting, cumulative preferred shares. There were no common shares sold or repurchased in 2020 and preferred shareholders received a dividend payment.

Calculate Hartly for 2020 Earnings per share (to up to 2 decimal places and do not use a $ sign)