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On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions...

On January 1, 2021, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2021: March 1: Reacquired 2,500 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1: Sold 11,500 new shares for cash. December 31: Reported a net income of $292,750.

Required: Calculate Algerian Delivery's basic earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.)


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