Chanukah Incorporated reported the following information for 2021:

Item	Amount
Net income	$810,000
Common shares outstanding	319,000
Cash dividends on common stock (declared and paid)	$147,000
Preferred shares outstanding	332,000
Cash dividends on preferred stock (declared and paid)	$153,000
Tax rate	40%

What is Chanukah Incorporateds basic earnings per share for 2021, rounded to the nearest penny?

$1.01

$1.60

$2.25

$2.06