Colt Corporation purchased Massey Inc. and agreed to give stockholders of Massey Inc. 50,000 additional shares in 2016 if Massey Inc.'s net income in 2015 is $600,000 or more; in 2014 Massey Inc.'s net income is $615,000. Colt has net income for 2014 of $1,000,000 and has an average number of common shares outstanding for 2014 of 500,000 shares. What should Colt report as earnings per share for 2014? 
Correct Answer:
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