XYZ Ltd. started its operations on 1 January 2022. During the year, the company issued 50,000 shares of common stock at $5 per share and 20,000 shares of preferred stock at $10 per share. The company also earned net income of $100,000 and paid dividends of $20,000 to its preferred shareholders. Calculate the company's earnings per share (EPS) for the year ended 31 December 2022.

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