An analyst gathered the following data about a company:

At the beginning of 2017 the company had 50,000 outstanding shares of common stock and 10,000 outstanding preferred shares. In May 2016 the company issued 6,000 10-year 10% $100 par convertible bonds, each bond convertible into 10 shares of common stock.

On April 1, 2017, the company issued additional 20,000 shares of common stock.

On June 30, 2017 the company paid dividends of $1.50 per preferred share and

$0.50 per common share.

Net income for 2017 was $50,000.

Calculate basic EPS for the company in 2017.