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Lloyd's Boat Shop, Inc. reports net income of $ 67,000, income before taxes of $ 120,000 and interest expense of $ 18,000. The weighted-average number

Lloyd's Boat Shop, Inc. reports net income of $ 67,000, income before taxes of $ 120,000 and interest expense of $ 18,000. The weighted-average number of shares of common stock outstanding during 2017 was 40,000 shares. The gross profit was $ 150,000. What is the earnings per share? (Round your final answer to the nearest cent.)

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