At December 31, 2017 and 2018, Funk & Noble Corporation had outstanding 880 million shares of common stock and 10 million shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2017 or 2018. Net income for 2018 was $1,184 million. The income tax rate is 40%. Calculate earnings per share for the year ended December 31, 2018. (Round your answer to 2 decimal places.)