Marx Inc, had 35,400 common shares on January 1, 2018. On May 1, 2.760 common shares were reacquired and retired. On August 31 and November 30, 9,840 and 5,760 common shares were issued, respectively. Marx reported net Income of $349,000. Marx also had 9.000 $2 cumulative preferred shares, on which the dividend for the current year was declared and paid. Calculate the basic earnings per share. (Round answer to 2 decimal places, s. 15.25.) Basic earnings per share 6.86