Cullumber Inc. presented the following data.

Net income		$2,530,000
Preferred stock: 47,000 shares outstanding, $100 par, 8% cumulative, not convertible		4,700,000
Common stock: Shares outstanding 1/1		777,600
Issued for cash, 5/1		308,400
Acquired treasury stock for cash, 8/1		146,400
2-for-1 stock split, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share

$enter earnings per share rounded to 2 decimal places