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. $ 703,000 190,000 $ 3.70 Picasso Art Supplies $1,180,000 590,000 2 20 37 74 $ 74 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