Primus, Inc., owns all outstanding stock of Sonston, Inc. Forthe current year, Primus reports...

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Primus, Inc., owns all outstanding stock of Sonston, Inc. Forthe current year, Primus reports net income (exclusive of anyinvestment income) of $576,000. Primus has 100,000 shares of commonstock outstanding. Sonston reports net income of $176,000 for theperiod with 40,000 shares of common stock outstanding. Sonston alsohas 10,000 stock warrants outstanding that allow the holder toacquire shares at $12.00 per share. The value of this stock was $24per share throughout the year. Primus owns 3,000 of thesewarrants.
What amount should Primus report for diluted earnings per share?(Round your intermediate percentage value to the nearestwhole number and the final answer to 2 decimalplaces.)

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In: AccountingPrimus, Inc., owns all outstanding stock of Sonston, Inc. Forthe current year, Primus reports net...Primus, Inc., owns all outstanding stock of Sonston, Inc. Forthe current year, Primus reports net income (exclusive of anyinvestment income) of $576,000. Primus has 100,000 shares of commonstock outstanding. Sonston reports net income of $176,000 for theperiod with 40,000 shares of common stock outstanding. Sonston alsohas 10,000 stock warrants outstanding that allow the holder toacquire shares at $12.00 per share. The value of this stock was $24per share throughout the year. Primus owns 3,000 of thesewarrants.What amount should Primus report for diluted earnings per share?(Round your intermediate percentage value to the nearestwhole number and the final answer to 2 decimalplaces.)