On December 31, 2019, Milton company had 340,000 shares of common stock issued and outstanding. on May 31, 2020, the company sold 50,000 additional shares for cash. On July 1,2020, the company repurchase 20,000 shares. Nilton's net income for the year ended December 31,2020 was $850,000. during 2020, Milton declared and paid $60,000 in cash dividends on its nonconvertible preferred stock. What is the 2020 basic earnings per share?