Oak Inc. had 36,200 common shares on January 1,2018. On May 1, 3,120 common shares were reacquired and retired. On August 31 and November 30,8,160 and 5,400 common shares were issued, respectively. Oak reported net income of $ 343,000. Oak also had 9,700 $ 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, e.g. 15.25.) Basic earnings per share $