On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding.

On February 28, 2018, Jackson purchased 24,000 shares of common stock on the open market as treasury stock paying $45 per share. Jackson sold 6,000 of the treasury shares on September 30, 2018, for $47 per share.

Net income for 2018 was $180,905. Also outstanding at December 31, 2017, were fully vested incentive stock options giving key personnel the option to buy 50,000 common shares at $40.

These stock options were exercised on October 1, 2018. The market price of the common shares averaged $50 during 2018.

What is Jackson's diluted earnings per share (rounded to 2 decimal places) for 2018?