Brief Exercise 16-14 Pharoah Corporation reported net income of $230,000 in 2017 and had 47,700 shares of common stock outstanding throughout the year. Also outstanding all year were 4,900 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Pharoah's tax rate is 30% Compute Pharoah's 2017 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share s Click if you would like to Show Work for this question: Open Show Work