Old Tower Enterprises had net income for 2024 of $115,000. Old Tower had 20,000 shares of common stock outstanding at the beginning of the year and 33,000 shares of common stock outstanding at the end of the year. There were 5,000 shares of preferred stock outstanding all year. During 2024, Old Tower declared and paid preferred dividends of $15,000. What is Old Tower's earnings per share? (Round the answer to two decimal places.) O $2.77 O $3.77 O $2.63 $3.48