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Assume the following financial data for the Noble Corporation and Barnes Enterprises: Noble Corporation Barnes Enterprises Total earnings $ 1,540,000 $ 6,620,000 Number of shares
Assume the following financial data for the Noble Corporation and Barnes Enterprises:
| Noble Corporation | Barnes Enterprises | |||
| Total earnings | $ | 1,540,000 | $ | 6,620,000 |
| Number of shares of stock outstanding | 700,000 | 3,310,000 | ||
| Earnings per share | $ | 2.2 | $ | 2.0 |
| Price-earnings ratio (P/E) | 30 | 33 | ||
| Market price per share | $ | 66 | $ | 66 |
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 = ???
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