On January 1, 2013, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2013: May 1: Reacquired 3,000 shares, accounted for as treasury stock. September 30: Sold 2000 share of the treasury stock. November 1: Sold 30,000 new shares for cash. December 31: Reported a net income of $248,400. Required: Calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2013