Metlock Inc. presented the following data.

Net income		$2,680,000
Preferred stock: 48,000 shares outstanding, $100 par, 8% cumulative, not convertible		4,800,000
Common stock: Shares outstanding 1/1		729,600
Issued for cash, 5/1		273,600
Acquired treasury stock for cash, 8/1		160,800
2-for-1 stock split, 10/1

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