At January 1, 2020. Vaughn Company's outstanding shares included the following 295.000 shares of $50 per value, 7% cumulative preferred stock 854.000 shares of $1 par value common stock Net income for 2020 was $2,499.000. No cash dividends were declared or paid during 2020. On February 15, 2021, however, all preferred dividends in arrears were paid, together with a 5% stock dividend on common shares. There were no dividends in arrears prior to 2020. On April 1, 2020.436,000 shares of common stock were sold for $10 per share, and on October 1, 2020, 106,000 shares of common Stockwere purchased for $21 per share and held as treasury stock Compute earnings per share for 2020. Assume that financial statements for 2020 were issued in March 2021. (Round answer to 2 decimal places, eg. $2.55.) Earnings per share $