Gammy Corp. had the following activity related to its shares for the year ended December 31, 20XX.
	Common shares outstanding, January 1: 150,000
	$3, cumulative preferred shares outstanding, January 1: 3,000
During 20XX
April 1: Declared a 2-for-1 stock split on common shares
July 1: Issued 20,000 common shares.
August 1: Issued 1,000 $2, non-cumulative preferred shares.
October 1: Repurchased 50,000 common shares.
December 1: Declared a 15% stock dividend on common shares.
Net income for the year was $476,000. No dividends were declared or paid in 20XX.
Calculate basic earnings per share for 20XX.