24. Information concerning the capital structure of Simon Corporation is as follows: December 31. 2016 2015 Commons ck 150,000 shares 150,000 shares Convertible preferred stock 15,000 shares 15,000 shares 9% convertible bonds $2,400,000 $2,400,000 During 2016, Simon paid dividends of $1.20 per share on its common stock and $3.00 per share on its preferred stock. The preferred stock is convertible into 30,000 shares of common stock. The 9% convertible bonds are convertible into 75,000 shares of common stock. The net income for the year ended December 31, 2016, was $600,000. Assume that the income tax rate was 30%. What should be the diluted earnings per share for the year ended December 31, 2016? a. $3.20 b. $2.95 c. $2.83 d. $2.35