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A company reports the following: Net income $1,044,630 Preferred dividends $77,380 Shares of common stock outstanding 53,000 Market price per share of common stock $52.93

A company reports the following:

	Net income	$1,044,630
	Preferred dividends	$77,380
	Shares of common stock outstanding	53,000
	Market price per share of common stock	$52.93

Determine the company's earnings per share on common stock. Round your answer to the nearest cent.

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