Can someone help me with part b of this question? I managed to do part a but I need help on part b.

I only need help with part b because I already did part a. For part b the answer key says the answer is 2.2067 but I don't know how it got that. can someone help me please? show your work and thanks in advance!

TIUMY J Hesuing 4 Heading 5 1 Heading 6 T Heading Paragraph The following information was taken from the books and records of Euston Corp 1. Net income, 2017 Styles $ 4,500 2 Capital structure: a Convertible bonds: 30 bonds issued and outstanding Each $100 par value bond is convertible into 10 shares of common b. Noncumulative $50 par value preferred stock, 20 shares outstanding c. Common stock, $1 par, 2,000 shares issued and outstanding $ 3,000 $1,000 $ 2,000 3 Other data: a. The bonds, preferred, and common shares were outstanding for all of 2017 b None of the bonds were converted during the year The income tax rate is 30% d. The bonds carry a 5% interest rate ($150 total per year) e. Preferred has a 4% annual dividend requirement. No dividends are in arrears. 1 Dividends paid during 2017 Preferred $40Common $120. a. Compute basic and diluted eamings per share for 2017. Carry all answers to three decimal places (10 pts) Basic EPS Calculations 2.230 Diluted EPS AVAINATURALE Calculations 1.9847 b. Find diluted earnings per share for 2017, now assuming that the convertible debt was issued on December 01, 2017. All other facts remain unchanged (5 pts) Diluted EPS Calculations: 22067 TES)