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A company reports the following: Net income $215,950 Preferred dividends $16,000 Shares of common stock outstanding 31,000 Market price per share of common stock $18.70

A company reports the following:

	Net income	$215,950
	Preferred dividends	$16,000
	Shares of common stock outstanding	31,000
	Market price per share of common stock	$18.70

Calculate the company's earnings per share on common stock. Round your answer to the nearest cent. $fill in the blank 1

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