A company had the following stockholders' equity information available at year-end.

- Issued 11,000 shares of $2.00 par value common stock for $12.00 per share. - Issued 5,000 shares of $50 par value 6% preferred stock for $70 per share. - Purchased 1,000 shares of previously issued common stock for $15.00 per share. - Reported net income of $200,000. - Declared and paid the preferred stock dividend.

Calculate the earnings per share for the current year. Round your answer to two decimal places.