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. $ 576,000 160,000 S 3.60 15 S 54 Picasso Art Supplies $1,120,000 560,000 S 2 27 S 54 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