At December 31, 2024, Cullumber Company had 2100000 shares of common stock outstanding. On January 1, 2025, Cullumber issued 506000 shares of preferred stock which were convertible into 1010000 shares of its common stock. In 2025, Cullumber declared and paid $1100000 cash dividends on the common stock and $410000 cash dividends on the preferred stock. Net income for the year ended December 31, 2025, was $5069300. Assuming an income tax rate of 30%, what was diluted earnings per share for the year ended December 31, 2025? $1.97 O $1.63 $1.50 O $2.41