At December 31, 2020 and 2021, Funk & Noble Corporation had outstanding 760 million shares of common stock and 7 million shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2020 or 2021. Net income for 2021 was $788 million. The income tax rate is 25%. Calculate earnings per share for the year ended December 31, 2021. (Round your answer to 2 decimal places.)