Stan's Tennis Co. has a December 31 year end. On December 31, 2020 they had 40,000 common shares outstanding. On May 1, 2021 they issued an additional 8,000 common shares. Net income for 2021 was $360,000 and preferred share dividends of $12,000 were declared and paid during 2021. Calculate the 2021 earnings per share. Round your response to two decimals.