10. (2 points) On January 1, 2017, Kingbird Company issued 200 shares of 6% convertible $100 par value preferred stock is convertible into 5 shares of Kingbird common stock. Kingbird's net income in 2017 was $317,000, and its tax rate was 40%. The company had 97,000 shares of common stock outstanding throughout 2017. None of the convertible preferred shares were converted in 2017. Compute diluted earnings per share for 2017