At December 31, 2016 and 2015, G Co. had 62,000 shares of common stock and 5,500 shares of 6%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2016 or 2015. Net income for 2016 was $560,000. For 2016, basic earnings per common share amounted to: (Round your answer to 2 decimal places.)