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Information concerning the capital structure of Cullumber Corporation is as follows: In 2025, Cullumber paid dividends of $0.7 per share on its common stock and $2 per share on its preferred stock. The preferred stock is convertible into 29200 shares of common stock. The 5% convertible bonds are convertible into 75100 shares of common stock. The net income for the year ended December 31,2025 , was $395000. Assume that the income tax rate was 30%. What should be the basic earnings per share for the year ended December 31,2025