Assume a company needs to raise $5,000,000. It issues bonds with a par value of $1,000 per bond. Each bond is convertible into 50 shares of common stock. The coupon rate of interest on the bond is 5%. The tax rate for the company is 30%. Assuming the company currently has earnings available to common shareholders of $4,000,000 (before adjustment) and 2,000,000 shares outstanding (before adjustment), what will diluted EPS be equal to?

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