Picketpart Arts, Inc., had earnings of $474,000 for the year, The company had 40,000 shares of common stock outstanding uring the ysar and issued 3,800 shares of $50 par value pieferred stock. The preferred stock has a dividend of $10 per share. There were no transactions in either common or preferred stock during the year. Determine the basic earnings per share for Dickapart Arts for the year. Round answer to two decimal places. por shase