Newcastle Enterprises had net income for 2018 of $ 112 comma 000. Newcastle had 36 comma 000 shares of common stock outstanding at the beginning of the year and 50 comma 000 shares of common stock outstanding at the end of the year. There were 10 comma 000 shares of preferred stock outstanding all year. During 2018, Newcastle declared and paid preferred dividends of $ 27 comma 000. What is Newcastle's earnings per share? (Round the answer to two decimal places.)