Information concerning the capital structure of Piper Corporation is as follows:

	December 31,
	2015		2014
Common stock	150,000 shares		150,000 shares
Convertible preferred stock	15,000 shares		15,000 shares
6% convertible bonds	$2,400,000		$2,400,000

During 2015, Piper paid dividends of $0.60 per share on its common stock and $1.50 per share on its preferred stock. The preferred stock is convertible into 30,000 shares of common stock. The 6% convertible bonds are convertible into 75,000 shares of common stock. The net income for the year ended December 31, 2015, was $300,000. Assume that the income tax rate was 30%. What should be the basic earnings per share for the year ended December 31, 2015, rounded to the nearest penny?