On January $1,2021,$ Crane Corp. had $474,000$ shares of common stock outstanding. During $2021,$ it had the following transactions that affected the Common Stock account.

February $1$ Issued $120,000$ shares

March $1$ Issued a $10\%$ stock dividend

May $1$ Acquired $98,000$ shares of treasury stock

June $1,$ Issued a $3-$for$-1$ stock split

October $1$ Reissued $58,000$ shares of treasury stock

Weighted$-$average number of shares outstanding is $1745700$

PROBLEM BELOW

$($b$)$ Assume that Crane Corp. earned net income of $$3,324,000$ during $2021.$ In addition, it had $99,000$ shares of $8\%,$ $$100$ par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in $2021.$ Compute earnings per share for $2021,$ using the weighted$-$average number of shares