The Hefty Corporation reported net income for 2018 of $175,000. Hefty began the year with 100,000 shares of $10 par value common shares outstanding and 2,500 shares of $100 par value 8% preferred shares outstanding. On June 1, Hefty sold 20,000 shares of common stock for $16 per share. Hefty paid dividends to the common shareholders in December. What is basic earnings per share for 2018 (round to nearest penny)