Raguel Corporation reported net income of $101,000 during the current calendar year. As of January 1, the company had 200,000 shares of common stock outstanding and 1,000 shares of 10% preferred stock with a par value of $10 per share. The preferred stock is nonconvertible and cumulative. The board of directors did not declare the preferred dividend of $1,000 for the current year. What is the company's basic EPS?
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