On January 1, 2018, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2018 1: Reacquired 2,e00 shares, accounted for as treasury stock. March September 30: Sold all the treasury shares December 1: Sold 11,800 new shares for cash. December 31: Reported a net income of $287,75. Required: Calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2018. (Round your answer to 2 decimal places.)