Vaughn Inc. presented the following data.

Net income $2,510,000 Preferred stock: 46,000 shares outstanding, $100 par, 8% cumulative, not convertible 4,600,000 Common stock: Shares outstanding 1/1 738,000 Issued for cash, 5/1 279,600 Acquired treasury stock for cash, 8/1 148,800 2-for-1 stock split, 10/1

Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share $