7) During 2016, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Angel declared and paid cash dividends of $300,000 and $150,000 to common and preferred shareholders, respectively, during 2016. On January 1 , 2015, Angel issued $2,000,000 of convertible 5% bonds at face value. Each $1,000 bond is convertible into five common shares. Angel's net income for the year ended December 31, 2016, was $6 million. The income tax rate is 20%. What will Angel report as diluted earnings per share for 2016, rounded to the nearest cent? A) $6.25 B $6.22. C) $6.43. D) $6.52