Vaughn Manufacturing had 298000 shares of common stock issued and outstanding at December 31, 2017. During 2018, no additional common stock was issued. On January 1, 2018, Vaughn issued 407000 shares of nonconvertible preferred stock. During 2018, Vaughn declared and paid $190000 cash dividends on the common stock and $149000 on the nonconvertible preferred stock. Net income for the year ended December 31, 2018, was $961000. What should be Vaughn's 2018 earnings per common share, rounded to the nearest penny? $3.22 $2.09 $2.72