2 On January 2, 2021, L Co. issued at face value $25,500 of 2% bonds convertible in total into 2,100 shares of L's common stock. No bonds were converted during 2021. Throughout 2021, L had 2,100 shares of common stock outstanding. L's 2021 net income was $7,500. L's income tax rate is 20%. No potential common shares other than the convertible bonds were outstanding during 2021. L's diluted earnings per share for 2021 would be: Multiple Choice $1.88. $1.91. $3.57. $1.79