Assume the following financial data for Rembrandt Paint Company 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 Company $ 648,000 180,000 $ 3.60 15 $ 54 Picasso Art Supplies $ 1,160,000 580,000 $ 2 27 $ 54 If all the shares of Rembrandt Paint Company 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? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Postmerger earnings per share