Michaels, Inc. reports $2,373,000 of net income in 2022.

During 2022, Michaels had:

2,496,000 shares of common stock outstanding - dividends of $1.74 paid on each.

70,000 shares of preferred stock outstanding - dividends of $5.00 paid on each.

129,000 stock options outstanding. The options allow the holder to purchase a share of Michales common stock for $23.00. The average price of Michaels common stock was $34.00 in 2022.

Michaels' 2022 basic earnings per share, to the nearest penny, is: