As of January 1, 2017, Pilli Corp. has $2.50, 5,000 cumulative preferred shares outstanding; as well as, 60,000 common shares outstanding. During 2017 and 2018, the company didnt declare or pay any dividends. In 2019, the company declared $120,000 in cash dividends.

Question: What is the EPS (for common shareholders) for the year 2019? ( assume numbers of shares have been not changed since January 1, 2017).

(Show calculation. Identify your answer clearly)