At December 31, 2024, Sunland Company had 1990000 shares of common stock outstanding. On January 1, 2025, Sunland issued 497000 shares of preferred stock which were convertible into 1060000 shares of its common stock. In 2025, Sunland declared and paid $1180000 cash dividends on the common stock and $408000 cash dividends on the preferred stock Net income for the year ended December 31,2025 , was $5002000. Assuming an income tax rate of 30%, what was diluted earnings per share for the year ended December 31,2025 ? $1.50 $2.07 $1.64 $2.51