Assume the following financial data for Rembrandt Paint Co$.$ and Picasso Art Supplies:

If all the shares of Rembrandt Paint Co$.$ are exchanged for those of Picasso Art Supplies on a share$-$for$-$share basis, what will

postmerger earnings per share be for Picasso Art Supplies? $($Do not round intermediate calculations. Round your answer to $2$

decimal places.$)$

Postmerger earnings per share