Assume the following financial data for the Noble Corporation and Barnes Enterprises: Noble Barnes Corporation Enterprises Total earnings $2, 112, 000 $5, 820, 090 Number of shares of stock outstanding 660, 000 2, 910, 090 Earnings per share 3.20 2.00 Price-earnings ratio (P/E) 25 40 Market price per share 80 80 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? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Postmerger earnings per share $ 2.28