Brief Exercise 19-12 (Algo) EPS; shares issued; shares retired [LO19-5, 19-6]

McDonnell-Myer Corporation reported net income of $864 million. The company had 423 million common shares outstanding at January 1 and sold 18 million shares on February 28. As part of an annual share repurchase plan, 9 million shares were retired on April 30 for $26 per share. Calculate McDonnell-Myer's earnings per share for the year. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)