On December 31, 2020, B Corporation had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $100 par, cumulative preferred stock outstanding. On March 31, 2021, B purchased 24,000 shares of common stock on the open market as treasury stock paying $20 per share. On August 31, 2021, B declared and issued a 2-for-1 stock split on outstanding common stock. B sold 8,000 treasury shares on October 1, 2021, for $15 per share. Net income for 2021 was $250,000.

Required:

Compute B's basic earnings per share for 2021.