Current Attempt in Progress

Wildhorse Corporation earned net income of $$360,000$ in $2023$ and had $100,000$ common shares outstanding throughout the year. Also outstanding all year was $$800,000$ of $10\%$ bonds that are convertible into $30,000$ common shares. Wildhorse's tax rate is $30\%.$

Calculate Wildhorse'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