Cheyenne Corporation earned net income of $499,500 in 2020 and had 102,000 shares of common stock outstanding throughout the year. Also outstanding all year was $800,000 of 5% bonds, which are convertible into 15,000 shares of common. Cheyenne's tax rate is 30 percent.

Compute Cheyenne's 2020 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)

Diluted earnings per share

$enter diluted earnings per share in dollars rounded to 2 decimal places