Best Corporation had 900,000 shares of $20 par common stock and 50,000 shares of 6%, $100 par noncumulative convertible preferred stock outstanding for the year 2021. Best declared and paid cash dividends of $300,000 and $150,000 to common and preferred shareholders, respectively, during 2021. The preferred stock shares are convertible to 40,000 shares of common stock. Best's net income for the year 2021 was $6 million. The income tax rate is 40%.

What should Best report as diluted earnings per share for 2021, rounded to the nearest cent?

O $6.38.

O $6.25.

O $6.45.

O $6.50.