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Blossom Corporation earned net income of $391,000 in 2023 and had...

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Accounting

Blossom Corporation earned net income of $391,000 in 2023 and had 115,000 common shares outstanding throughout the year. Also
outstanding all year was $810,000 of 10% bonds that are convertible into 11,500 common shares. Blossom's tax rate is 25%.
Calculate Blossom's 2023 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity
components of the bonds separately. (Round answer to 2 decimal places, e.g.15.25.)
Diluted earnings per share (ANSWER IS NOT 3.571)
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