Coronado Industries had 209000 shares of common stock, 19300 shares of convertible preferred stock, and $596000 of 12% convertible bonds outstanding during 2018. The preferred stock is convertible into 40900 shares of common stock. During 2018, Coronado paid dividends of $0.55 per share on the common stock and $1.70 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2018 was $366000 and the income tax rate was 30%.

Basic earnings per share for 2018 is (rounded to the nearest penny)

$1.47.

$1.59.

$1.22.

$1.42.