spider corporation began operations in 1980. as of 1-1-2021, there were 1,000 shares of 7% preferred stock (par value of $100 per share) outstanding. the preferred stock was issued on 1-1-2019. the preferred stock is nonconvertible. the preferred stock is cumulative. the preferred stock is nonparticipating. spider corporation had 100,000 shares of common stock outstanding as of 1-1-2021. the common stock has a par value of $1 per share. the common stock was issued during various years from 1980 through 2020. during 2021, the following transactions were effected by spider: date action 3-21-2021 acquired 12,000 shares of common stock 10-10-2021 sold 48,000 shares of common stock during 2021 spider had net income of $400,000 and declared and paid $7,000 in dividends on preferred stock on 12-31-2021. spider also declared and paid $70,000 in dividends on common stock on 12-31-2021.

what is basic eps for spider for 2021 ?