Brief Exercise 16-13

Skysong Corporation earned net income of $410,000 in 2017 and had 110,000 shares of common stock outstanding throughout the year. Also outstanding all year was $700,000 of 9% bonds, which are convertible into 19,000 shares of common. Skysongs tax rate is 40 percent. Compute Skysongs 2017 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)