The financial statements for Highland Corporation included the following selected information:

Common stock $ $1,600,000$

Retained earnings $ $900,000$

Net income $ $1,000,000$

Shares issued $90,000$

Shares outstanding $80,000$

Dividends declared and paid $ $800,000$

The common stock was sold at a price of $$30$ per share.

$4.$ Compute earnings per share. Assume the weighted average shares outstanding is equal to the shares outstanding.

Note: Round your answer to $2$ decimal places.