Golden Valley Corporation started the year ended November 30 , 2021 , with 164,000 common shares and no preferred shares issued. The following changes in share capital occurred during the year: Feb. 28 Issued 46,080 cortmon shares for $742,000. Sept. 4 Issued 56,800 \$1 cumulative preferred shares for $14.2 million. Nov. 1 Issued 16,920 common shares in exchange for land. The shares were trading for $19 on this date and the fair value of the land was $305,680. 30 Reported net income of $884,600. Calculate the basic earnings per share for the year. (Round answer to 2 decimal places, e.g. 52.75.) Basic earnings per share $