FizziPop Beverages is one of the leading producers of carbonated drinks. Its annual earnings, number of outstanding shares of common stock and EPS (earnings per share) for the past several years are summarized below:

Year	Earnings (M$)	Shares (M)	EPS ($)	EPS Growth (%)
2008	24.0	12.0	$2.00	-
2009	24.6	12.5	$1.97	-1.5%
2010	28.7	12.7	$2.26	14.7%
2011	29.0	13.2	$2.20	-2.7%

For 2012, analysts project earnings of 31.3 million and FizziPop will have 13.4 million shares of common stock outstanding at the end of the year as it plans to issue an additional 200,000 shares in the 3rd quarter for executive bonuses.

What is the projected earnings per share (EPS) in 2012?