Bravo, Incorporated, owns all of the stock of Echo, Incorporated. For 2024, Bravo reports income (excluslve of any Investment Income) of $480,000. Bravo has 80,000 shares of common stock outstanding. It also has 5,000 shares of preferred stock outstanding that pay a dividend of $15,000 per year. Echo reports net Income of $290,000 for the perlod with 80,000 shares of common stock outstanding. Echo also has a llability from Its 10,000,$100 bonds that pay annual Interest of $8 per bond. Each of these bonds can be converted Into two shares of common stock. Bravo owns none of these bonds. Assume a tax rate of 21 percent. Requlred: What amount should Bravo report as diluted earnings per share? Note: Round your answer to 2 decimal places