Answer is not 5.42.

Sunland Corporation had 2020 net income of $975,000. During 2020, Sunland has not declared or paid any dividend on 94,000 cumulative preferred shares. Sunland also had 180,000 common shares outstanding during the year. The preferred shares pay an annual dividend of $3 per share. Calculate Sunland's 2020 earnings per share. (Round answer to 2 decimal places, eg. 15.25.) $ Earnings per share