At December $31,2024,$ Sheridan Company had $2010000$ shares of common stock outstanding. On January $1,$

$2025,$ Sheridan issued $491000$ shares of preferred stock which were convertible into $1020000$ shares of its

common stock. In $2025,$ Sheridan declared and paid $$1110000$ cash dividends on the common stock and $$392000$

cash dividends on the preferred stock. Net income for the year ended December $31,2025,$ was $$5090400.$

Assuming an income tax rate of $30\%,$ what was diluted earnings per share for the year ended December $31,2025?$

$$1\mathrm{.}68$

$$2\mathrm{.}53$

$$1\mathrm{.}60$

$$2\mathrm{.}09$