The following information relates to Jones Corporation on December 31, 2020.

Common stock $1 par, 300,000 issued and outstanding shares $300,000

Cumulative, convertible, 6% $50 par preferred stock 10,000 issued and outstanding shares $500,000

5% Convertible bonds $200,000

During 2020, no dividend was declared on its preferred stock. The preferred shares are convertible into 50,000 shares of common stock. The 5% bonds are convertible into 60,000 shares of common stock. Net income for 2020 is $610,000. Assume that the income tax rate is 25% and that the common stock, preferred stock, and bonds were outstanding all year Compute basic EPS for 2020,