The Hamilton Corporation has 4 million shares of stock outstanding and will report earnings of $6,070,000 in the current year. The company is considering the issuance of 1 million additional shares which can only be issued at $38 per share.
a. Assume the Hamilton Corporation can earn 6.00 percent on the proceeds. Calculate the earnings per share. (Do not round intermediate calculations and round your answer to 2 decimal places.)