At December 31, 2021 and 2020, P Co. had 51,000 shares of common stock and 5,100 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $515,000. For 2021, basic earnings per common share amounted to: (Round your answer to 2 decimal places.)