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Cullumber Corporation earned net income of $ 2 9 4 , 0 0 0 in 2 0 2 3 and had 9 8 , 0

Cullumber Corporation earned net income of $ 294,000 in 2023 and had 98,000 common shares outstanding throughout the year. Also outstanding all year was $ 720,000 of 10% bonds that are convertible into 25,000 common shares. Cullumbers tax rate is 30%.
Calculate Cullumbers 2023 diluted earnings per share. For simplicity, ignore the IFRS requirement to record the debt and equity components of the bonds separately.

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