Current Attempt in Progress

Your answer is incorrect.

At December $31,2020,$ Concord Corporation had $1290000$ shares of common stock outstanding.

In addition, Concord had $451000$ shares of preferred stock which were convertible into $744000$

shares of common stock. During $2021,$ Concord paid $$1180000$ cash dividends on the common

stock and $$797000$ cash dividends on the preferred stock. Net income for $2021$ was $$6840000$ and

the income tax rate was $40\%.$ The diluted earnings per share for $2021$ is $($rounded to the nearest

penny$)$

$$5\mathrm{.}29.$

$$2\mathrm{.}41.$

$$4\mathrm{.}63.$

$$3\mathrm{.}36.$