Compute basic earnings per share in the following problem. Show all computations.

Capital Consulting Company had 400,000 shares of common stock outstanding on January 1, 2018. On that date, there were also 5,000 shares of $100 par, 6% noncumulative preferred stock outstanding. On March 1, 2018, the company's common stock split 3-for-1. On December 15, 2018, a preferred dividend was declared and paid in the amount of $30,000. Net income for 2018 was $2,500,000.

Required:

Compute basic earnings per share (rounded to 2 decimal places) for the year ended December 31, 2018.