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A company reports the following: Net income $202,950 Preferred dividends $15,030 Shares of common stock outstanding 24,000 Market price per share of common stock $22.71

A company reports the following:

	Net income	$202,950
	Preferred dividends	$15,030
	Shares of common stock outstanding	24,000
	Market price per share of common stock	$22.71

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

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