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Question: Assume the following financial data for the Noble Corporation and Barnes Enterprises: Noble Corporation Barnes Enterprises Total earnings $ 1,408,000 $ 5,420,000 Number of shares of stock outstanding 640,000 2,710,000 Earnings per share $ 2.2 $ 2.0 Price-earnings ratio (P/E) 20 22 Market price per share $ 44 $ 44 If all the shares of the Noble Corporation are exchanged for those of Barnes Enterprises on a share-for-share basis, what will postmerger earnings per share be for Barnes Enterprises? (Do not round intermediate calculations. Round your answer to 2 decimal).

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