Exercise 17-9 In 2016, Sunland Ltd. issued $48,000 of 8% bonds at par, with each $1,000 bond being convertible into 100 common shares. The company had revenues of $72,200 and expenses of $41,800 for 2017, not including interest and taxes (assume a tax rate of 30%). Throughout 2017, 1,900 common shares were outstanding, and none of the bonds were converted or redeemed. (For simplicity, assume that the convertible bonds' equity element is not recorded.) X Your answer is incorrect. Try again. Calculate diluted earnings per share for the year ended December 31, 2017. (Round answer to 2 decimal places,e.g. 15.25.) 9.79 Diluted earnings per share $ LINK TO TEXT X Your answer is incorrect. Try again. Calculate diluted earnings per share for the year ended December 31, 2017. Assume that the 48 bonds were issued on October 1, 2017 (rather than in 2016), and that none have been converted or redeemed. (Round answer to 2 decimal places, e.g. 15.25.) 10.85 Diluted earnings per share $ LINK TO TEXT