Johanna Barker, an analyst with Bob's Company, has collected the following data about the firm:

EBITDA = $3.5 million

Tax rate = 38%

Debt outstanding = $2.5 million

Cost of debt = 10.5%

Cost of common equity = 14%

Shares of stock outstanding = 800,000

BV of the stock per share = $12

The firms product market is considered stable, and the firm expects no growth, and all earnings are paid out as dividends. Calculate the firms earning per share, assuming depreciation & amortization costs of $600,000 per year. Show your calculations.