Assume the following financial data for Rembrandt Paint Co. and Picasso Art Supplies: Total earnings Number of shares of stock outstanding Earnings per share Price-earnings ratio (P/E) Market price per share Rembrandt Paint Co. $ 532,000 140,000 $ 3.80 10 $ 38 Picasso Art Supplies $1,080,000 540,000 $ 2 19 $ 38 $ NO WP 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