Assume the same information as in BE17-13 except that the 10% bonds are convertible into 10,000 common shares. Calculate Thiessen's 2014 diluted earnings per share.

Data From BE17-13

Thiessen Corporation earned net income of $300,000 in 2014 and had 100,000 common shares outstanding throughout the year. Also outstanding all year was $800,000 of 10% bonds that are convertible into 26,000 common shares. Thiessen’s tax rate is 25%. Calculate Thiessen’s 2014 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately.