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At December 31, 2017 and 2018, Funk & Noble Corporation had outstanding 1,200 million shares of...

At December 31, 2017 and 2018, Funk & Noble Corporation had outstanding 1,200 million shares of common stock and 18 million shares of 6%, $100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2017 or 2018. Net income for 2018 was $2,628 million. The income tax rate is 40%.

Calculate earnings per share for the year ended December 31, 2018.

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