Marigold presented the following data:

Net income $5,811,000

Bonds: 10%, $761,000 par value 748,400

Preferred stock: 100,000 shares outstanding, $100 par, 8% cumulative, not convertible. 10,000,000

Common stock: Shares outstanding 1/1 500,000

Issued for cash, 4/1 800,000

Issued 40% stock dividend, 10/1

The Common Stock has a $1 par value. Compute earnings per share. (Round answer to 2 decimal places, e.g. 2.55.)