Assume the following financial data for Rembrandt Paint Co. and Picasso Art Supplies: Rembrandt Paint Co. Picasso Art Supplies Total earnings $ 504,000 $ 738,000 Number of shares of stock outstanding 140,000 410,000 Earnings per share $ 3.6 $ 1.8 Price-earnings ratio (P/E) 10 20 Market price per share $ 36 $ 36 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.)