On December 31, 20x7, Kallman Corporation had 160,000 shares of common stock issued and outstanding. On April 1, 20x8, an additional 40,000 shares of common stock were issued for cash. During 20x8, Kallman declared and paid dividends of $150,000 on its 20,000 shares of nonconvertible preferred stock. Net income for 20x8 amounted to $400,000. what Kallman's earnings per share (rounded to the nearest cent) for 20x8 are ?