On January 1, Year 5, Chastain, Inc., had 240,000 shares of common stock and 30,000 shares of convertible preferred stock outstanding. The preferred stock has a $8 per-share dividend rate, and each share may be converted into one share of common stock.

The following transactions occurred over the next twelve months. a. An additional 36,000 shares of common stock were issued on July 1. b. On September 1, Chastain acquired 12,000 shares of common stock for the treasury. c. The company earned $624,000 in net income. d. Chastain declared the $8 per-share dividend to preferred shareholders. What was basic earnings per share (BEPS) for Chastain in Year 5? Round answer to two decimal places.