24. Vaughn Manufacturing had 204000 shares of common stock, 21000 shares of convertible preferred stock, and $603000 of 9% convertible bonds outstanding during 2021. The preferred stock is convertible into 39200 shares of common stock. During 2021, Vaughn paid dividends of $0.56 per share on the common stock and $1.70 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $360000 and the income tax rate was 25%. Diluted earnings per share for 2021 is (rounded to the nearest penny)

$1.37.

$1.48.

$1.55.

$1.33.