At December 31, 2020, Sunland Company had 2050000 shares of common stock outstanding. On January 1, 2021, Sunland issued 492000 shares of preferred stock which were convertible into 1080000 shares of common stock. During 2021, Sunland declared and paid $1230000 cash dividends on the common stock and $398000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $5020000. Assuming an income tax rate of 28%, what should be diluted earnings per share for the year ended December 31, 2021? (Round to the nearest penny.)