Assume the following 1,000 shares are outstanding (no change during the year) Net income is $5,000 . The company paid $500 in preferred dividends The company paid $600 in common dividends The average market price of their common stock is $60 for the year The company had 100 warrants (for one share each) outstanding for the entire year, exercisable at $50/share The company's diluted earnings per share is closest to: $4,42 54.83 $4.55