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During 2024, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 4%...

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Accounting

During 2024, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 4% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $320,000 and $160,000 to common and preferred shareholders, respectively, during 2024.
On January 1,2023, Angel issued $2,020,000 of convertible 7% bonds at face value. Each $1,000 bond is convertible into five common shares.
Angel's net income for the year ended December 31,2024, was $6.00 million. The income tax rate is 20%.
What will Angel report as diluted earnings per share for 2024, rounded to the nearest cent?

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