At December 31, 2023 and 2024, Funk & Noble Corporation had outstanding 1,000 million shares of common stock and 13 million shares of 4%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2023 or 2024. Net income for 2024 was $1,652 million. The income tax rate is 25%.

Calculate earnings per share for the year ended December 31, 2024.

Note: Round your answer to 2 decimal places.