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 Picasso Art Supplies $ 900,000 Rembrandt Paint Co. $ 585,000 195,000 3.00 450,000 2 14 21 42 $ 42 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