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A company reports the following: Net income $205,180 Preferred dividends $15,200 Shares of common stock outstanding 23,000 Market price per share of common stock $23.95

A company reports the following:

Net income	$205,180
Preferred dividends	$15,200
Shares of common stock outstanding	23,000
Market price per share of common stock	$23.95

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

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