Rocky Prairie Systems Ltd. reported net income of $1,200,000…

Rоcky Prаirie Systems Ltd. repоrted net incоme of $1,200,000 аnd hаd 380,000 weighted-average common shares outstanding during the year.The company also had 20,000 cumulative preferred shares outstanding throughout the year. Each preferred share carries an annual dividend of $3. No preferred dividends were declared during the year.On April 1, Rocky Prairie issued $2,000,000 of 6% convertible bonds. The bonds were outstanding for the remainder of the year. Each $1,000 bond is convertible into 25 common shares.The corporate income tax rate is 25%.What diluted earnings per share should Rocky Prairie report?