On December $31,2022,$ Tea Company had $100,000$ shares of common stock outstanding and $30,000$ shares of $7\%,$ $$100$ par, cumulative preferred stock outstanding. On February $28,2023,$ Tea purchased $24,000$ shares of common stock on the open market as treasury stock paying $$45$ per share. Tea sold $6,000$ of the treasury shares on September $30,2023,$ for $$47$ per share. Net income for $2023$ was $$540,000.$ The income tax rate is $40\%.$

Compute basic earnings per share $($rounded to $2$ decimal places$)$ for Tea Company for $2023.$