Cullumber Limited was incorporated with share capital consisting of 122,000 common shares. In January 2023, it issued 20,100 mandatorily convertible preferred shares. The terms of the prospectus for the issuance of the preferred shares require the convertible preferred shares to be converted into common shares, at the rate of one preferred share for one common share, during the fourth quarter of 2024. The preferred shares pay an annual dividend of $5 per share. Assume that for the fiscal year ended December 31, 2023 , the company made an after-tax profit of $160,573. Calculate the 2023 earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $