Assume the following financial data for Rembrandt Paint Company and Picasso Art Supplies:

Assume the following financial data for Rembrandt Paint Company and Picasso Art Supplies: If all the shares of Rembrandt Paint Company are exchanged for those of Picasso Art Supplies on a sharefor-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