Whаt B vitаmin requires intrinsic fаctоr fоr absоrption?
During the yeаr, Dоnоvаn Cоrporаtion had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Donovan declared and paid cash dividends of $300,000 and $150,000 to common and preferred shareholders, respectively, during the year. Throughout the year, Donovan had outstanding $2,000,000 of convertible 5% bonds that were originally issued at face value. Each $1,000 bond is convertible into five common shares. Donovan's net income for the year was $6 million. The income tax rate is 20%. What is Donovan's basic earnings per share? Note: Round your answer to 2 decimal places.