Current Attempt in Progress

Crane Corporation earned net income of $$275,500$ in $2023$ and had $95,000$ common shares outstanding throughout the year. Also

outstanding all year was $$710,000$ of $10\%$ bonds that are convertible into $25,000$ common shares. Crane's tax rate is $30\%.$

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, e$.$g$.15\mathrm{.}25.)$

Diluted earnings per share