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Assume the following financial data for the Noble Corporation and Barnes Enterprises: Noble Corporation Barnes Enterprises Total earnings $ 2,736,000 $ 7,200,000 Number of shares
Assume the following financial data for the Noble Corporation and Barnes Enterprises:
| Noble Corporation | Barnes Enterprises | |||||
| Total earnings | $ | 2,736,000 | $ | 7,200,000 | ||
| Number of shares of stock outstanding | 760,000 | 3,600,000 | ||||
| Earnings per share | $ | 3.60 | $ | 2.00 | ||
| Price-earnings ratio (P/E) | 25 | 45 | ||||
| Market price per share | $ | 90 | $ | 90 | ||
If all the shares of the Noble Corporation are exchanged for those of Barnes Enterprises on a share-for-share basis, what will postmerger earnings per share be for Barnes Enterprises
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