During the current year, Tseng Corporation had 3.45 million shares of common stock outstanding $5,075,000...

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Accounting

During the current year, Tseng Corporation had 3.45 million shares of common stock outstanding $5,075,000 of 7% convertible bonds were issued at face amount at the beginning of the year. Tseng reported income before tax of $4.60 million and net income of $3.45 million for the year. The bonds are convertible into 640,000 shares of common. What is diluted EPS (rounded)?
Multiple Choice
$0.91
$0.93
$1.03
$1.08
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