During $2020,$ Penny Co$.$ had net income of $$200,000$ including after$-$tax interest expense of $$30,000$ on convertible bonds. The $$300,000$ face value of convertible bonds can be converted into common stock at the rate of $300$ shares per $$1,000$ bond. Prior to the conversion, there were $400,000$ shares of common stock outstanding. What is the amount of fully diluted earnings per share?

not determinable because the bonds are not dilutive

$$0\mathrm{.}500$

$$0\mathrm{.}408$

$$0\mathrm{.}469$