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A company reports the following: Net income $758,420 Preferred dividends $56,180 Shares of common stock outstanding 48,000 Market price per share of common stock $42.43

A company reports the following:

	Net income	$758,420
	Preferred dividends	$56,180
	Shares of common stock outstanding	48,000
	Market price per share of common stock	$42.43

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

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