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A company reports the following: Net income $648,020 Preferred dividends $48,000 Shares of common stock outstanding 38,000 Market price per share of common stock $45.79

A company reports the following: Net income $648,020 Preferred dividends $48,000 Shares of common stock outstanding 38,000 Market price per share of common stock $45.79 Calculate the company's earnings per share on common stock. Round your answer to the nearest cent.

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