On December 31, 2014, Jackson Company had 100,000 shares of common stock outstanding and shares of 7%, S50 par. cumulative preferred stock outstanding. On February 28, 2015. Jackson purchased 24,000 shares of common stock on the open market as treasury stock at $35 per share. Jackson sold 6,000 treasury shares on September 30, 2015, for $37 per share. Net income for 2015 was $2, 400,000. Also outstanding during the year were fully vested incentive stock options giving key personnel the option to buy 50,000 common shares at $40. During 2015, the average market price of the common shares was $50 with a closing price of $52 on December 31, 2015. Fifty thousand 6% bonds were issued at par on January 1, 2009. Each bond is convertible into 3 shares of common stock. On September 1, 2015, half of the stock options were exercised. Required: Compute Jackson's earnings per share for 2015