Crane Companyhad190000shares of common stock,19000shares of convertible preferred stock, and $590000of9% convertible bonds outstanding during 2021. The preferred stock is convertible into39000shares of common stock. During 2021,Cranepaid dividends of $0.54per share on the common stock and $1.70per share on the preferred stock. Each $1,000 bond is convertible into45shares of common stock. The net income for 2021 was $350000and the income tax rate was25%.

Diluted earnings per share for 2021 is (rounded to the nearest penny)

Possible answers include:

1.61

1.41

1.53

1.37