Crane Inc. had 37,400 common shares on January 1, 2024. On May 1, 2,880 common shares were repurchased and retired. On August 31 and November 30, 8,280 and 5,520 common shares were issued, respectively. Crane reported net income of $357,000. Crane also had 10,700 $3 noncumulative preferred shares, on which the dividend for the current year was declared and paid. Calculate the basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ 8.23