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Primus, Incorporated, owns all outstanding stock of Sonston, Incorporated. For the current year, Primus reports...

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Accounting

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Primus, Incorporated, owns all outstanding stock of Sonston, Incorporated. For the current year, Primus reports net income (exclusive of any investment income) of $656,000. Primus has 50.000 shares of common stock outstanding. Sonston reports net income of $256,000 for the perlod, with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $12.00 per share. The value of this stock was $24 per share throughout the year. Primus owns 2,700 of these warrants. Required: What amount should Primus report for diluted earnings per share? Note: Round your intermediate percentoge value to the nearest whole number and the final answer to 2 decimal places

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