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A company reports the following: Net income $553,820 Preferred dividends $41,020 Shares of common stock outstanding 40,000 Market price per share of common stock $37.18

A company reports the following:

Net income $553,820
Preferred dividends $41,020
Shares of common stock outstanding 40,000
Market price per share of common stock $37.18

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

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