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Information concerning the capital structure of Sheridan Company is as follows: During 2021, Sheridan paid...

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Information concerning the capital structure of Sheridan Company is as follows: During 2021, Sheridan paid dividends of $0.70 per share on its common stock and $3 per share on its preferred stock. The preferred stock is convertible into 30000 shares of common stock. The 5% convertible bonds are convertible into 75800 shares of common stock. The net income for the year ended December 31,2021 , was $400000. Assume that the income tax rate was 28%. What should be the diluted earnings per share for the year ended December 31,2021 , rounded to the nearest penny? $1.96$1.82$2.22$2.09

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