At the beginning of the year, David Corp had: - 300,000 common shares outstanding - 10,0007% preferred shares outstanding with a $100 par amount On July 1 , David Corp issued another 30,000 common shares. Also assume that during the year David Corp had issued options to buy 40,000 shares of common stock at $90 per share and that the market price is $100 per share. Net income for David Corp at the end of the year was $895,000. Calculate diluted earnings per share. $2.40 $2.32 $2.48 $2.37