23. At December 31,2024. Sandhill Company had 2050000 shares of common stock outstanding. On...

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Accounting

23.
At December 31,2024. Sandhill Company had 2050000 shares of common stock outstanding. On January 1,2025. Sandhill issued 492000 shares of preferred stock which were convertible into 1080000 shares of its common stock. In 2025. Sandhill declared and paid $1230000 cash dividends on the common stock and $398000 cash dividends on the preferred stock. Net income for the year ended December 31,2025, was $5008000. Assuming an income tax rate of 30%, what was diluted earnings per share for the year ended December 31,2025?
$2.44
$1.50
$1.60
$1.99
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