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Sheffield Corporation reported net income of $$288,150$ in $2025$ and had $46,500$ shares of common stock outstanding throughout the

year. Also outstanding all year were $5,000$ shares of cumulative preferred stock, each convertible into $2$ shares of common. The

preferred stock pays an annual dividend of $$5$ per share. Sheffield's tax rate is $30\%$

Compute Sheffield's $2025$ diluted earnings per share. $($Round answer to $2$ decimal plices, es$.3\mathrm{.}55)$

Diluted earnings per share

eTextbook and Media Sheffield Corporation reported net income of $$288,150$ in $2025$ and had $46,500$ shares of common stock outstanding throughout the year. Also outstanding all year were $5,000$ shares of cumulative preferred stock, each convertible into $2$ shares of common. The preferred stock pays an annual dividend of $$5$ per share. Sheffield's tax rate is $30\%.$

Compute Sheffield's $2025$ diluted earnings per share. $($Round answer to $2$ decimal places, e$.$g$.3\mathrm{.}55.)$

Diluted earnings per share