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A company reports the following: Net income $521,940 Preferred dividends $38,660 Shares of common stock outstanding 56,000 Market price per share of common stock $25.03

A company reports the following: Net income $521,940 Preferred dividends $38,660 Shares of common stock outstanding 56,000 Market price per share of common stock $25.03 Determine the company's earnings per share on common stock. Round your answer to the nearest cent.

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