Babies R Us ("Bables", net income for the year ended 20x1 is $700,000 and they have tax rate of 40%. Bables had 150,000 common shares outstanding for the year. Following are the details of Babies capital structure: . Employee stock options granting holder right to purchase 5,000 common shares for $6 per share it purchased before December 31, 20x5 Series A bonds- $1,000,000,7% bonds maturing on July 1, 209. Each $1,000 bond can be converted into eight and a half common shares anytime before December 31, 20x5, and 9 and half common shares thereafter. Series 3 stock options granting holder to purchase 7,000 common shares for $12 each. . 5,000, 5100 cumulative preferred shares with a stated dividend rate of 5% per annum. Each preferred share can be converted into four common shares. In 20x1 the average market price for Bable's common shares was 510. Bables declared dividends of 545,000 related to the preferred shares, payable on January 1, 20x2. What is the dilutive earnings per share (DEPS); a $4.05 b. $4.09 c. 54.07 d. 54.50