DiCenta Corporation reported net income of $277,000 in 2012 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 6,250 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta' tax rate is 40%. Compute DiCenta' 2012 diluted earnings per share.