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A company has a market - to - book ratio of 2 . 3 times and a price - earnings ratio of 2 0 times.

A company has a market-to-book ratio of 2.3 times and a price-earnings ratio of 20 times. If the firm's common stock is selling at $27.8 per share, what is the company's earning per share?
Round your answer to the nearest cent (e.g.,2.34).
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