Crane Corporation earned net income of $320,000 in 2023 and had 100,000 common shares outstanding throughout the year. Also outstanding all year was $750,000 of 10% bonds that are convertible into 25,000 common shares. Crane's tax rate is 35%. Calculate Crane's 2023 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately. (Round answer to 2 decimal places, eg. 15.25.) Diluted earnings per share