Crystal Arts, Inc., had earnings of $551,100 for 2016. The company had 46,000 shares ofcommon stockoutstanding during the year. In addition, the company issued 2,500 shares of $150 par valuepreferred stockon January 3, 2016. The preferred stock has adividendof $7 per share. There were no transactions in either common or preferred stock during 2016.

Determine the basic earnings per share for Crystal Arts. Round answer to two decimal places. $per share