On January 1, 2018, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2018:

March 1:

Reacquired 3,000 shares, accounted for as treasury stock.

September 30:

Sold all the treasury shares.

December 1:

Sold 12,000 new shares for cash.

December 31:

Reported a net income of $297,750.

Required:

Calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2018. Show your calculations.If not, no credit.