Flyaway Travel Company reported net income for 2012 in the amount of $90,000. During 2012, Flyaway declared and paid $2, 125 in cash dividends on its nonconvertible preferred stock. Flyaway also paid $10,000 cash dividends on its common stock. Flyaway had 40,000 common shares outstanding from January 1 until 10,000 new shares were sold for cash on April 1, 2012. What is 2012 basic earnings per share?