Bramble Corp. had 290000 shares of common stock issued and outstanding at December 31, 2020. During 2021, no additional common stock was issued. On January 1, 2021, Bramble issued 390000 shares of nonconvertible preferred stock. During 2021, Bramble declared and paid $174000 cash dividends on the common stock and $159000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2021, was $966000. What should be Bramble's 2021 earnings per common share, rounded to the nearest penny?

$2.18

$1.23

$2.78

$3.33