At the beginning of the fiscal year, June 1, Fox Corporation had 80,000 shares of common stock outstanding. Also outstanding was $200,000 of 8% convertible bonds that had been issued at $1,000 par. The bonds were convertible into 20,000 shares of common stock; however, no bonds were converted during the year. Fox's tax rate is 34% and net income for the year was $107,000. Diluted earnings per share of Fox common stock for the fiscal year ended May 31 was

Group of answer choices

$1.18

$1.07

$1.34

$1.23