The following differences enter into the reconciliation of financial income and taxable income of Hatley Company for the year ended December 31, 2018. The enacted income tax rate is 40% for all years. Excess tax depreciation.. 100,000 Litigation accrual . 50,000 Unearned rent revenue . 120,000 Interest income on municipal bonds . 10,000 1. Excess tax depreciation will reverse equally over the next four years. 2. It is estimated that the litigation liability will be paid in 2022 3. Rent revenue will be recognized on 12/31/2020 4. Taxable income (income for tax purposes) as of 12/31/2018 is $450,000 5. Deferred tax assets as of 12/31/2017 is $70,000 6. Deferred tax liability as of 12/31/2017 is $55,000 Additional information Weighted average number of shares outstanding 1,000,000 shares 2%, preferred stock, $10 par 1,000,000 shares The preferred stock is cumulative and dividends were NOT paid last year Calculate EPS for Hatley Company for the year ended December 31, 2018.