Junkyard Arts, Inc., had earnings of $316,000 for 2016. The company had 40,000 shares of The stock outstanding when a corporation has issued only one class of stock.common stock outstanding during the year. In addition, the company issued 15,000 shares of $50 The monetary amount printed on a stock certificate.par value A class of stock with preferential rights over common stock.preferred stock on January 9, 2016. The preferred stock has a Distributions of a corporation's earnings to stockholders.dividend of $1.60 per share. There were no transactions in either common or preferred stock during 2016.

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