No common stock was issued throughout the year. 4.5M shares of common stock were outstanding. The bond payable had an interest rate of ten percent, income tax was thirty percent, and the dividend per share of common stock was $1.29. Common stock had a $37 market value at the end of the period. All sales were on account. Calculate the earnings per share. Please show work.

\begin{tabular}{|l|r|r|} \hline & This year & \multicolumn{1}{|c|}{ Last year } \\ \hline Net operating income & $26,125 & $26,250 \\ \hline Interest expense & 2,090 & 2,100 \\ \hline Net income before taxes & 24,035 & 24,150 \\ \hline Income taxes & 7,210 & 7,245 \\ \hline Net income & 16,825 & 16,905 \\ \hline Dividends to common stockholders & 5,800 & 5,800 \\ \hline Net income added to retained earnings & 11,025 & 11,105 \\ \hline Beginning retained earnings & 48,105 & 37,000 \\ \hline Ending retained earnings & 59,130 & 48,105 \\ \hline Total stockholders' equity & 70,630 & 59,605 \\ \hline Total liabilities and stockholders' equity & 118,500 & 111,500 \\ \hline \end{tabular}