Earnings per share.

Santana Corporation has 400,000 shares of common stock outstanding throughout 2013. In addition, the corporation has 5,000, 20-year, 9% bonds issued at par in 2011. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/14. During the year 2013, the corporation earned $900,000 after deducting all expenses. The tax rate was 30%.

Instructions

Compute the proper earnings per share for 2010.