Gravel Company reported net income of $4,500,000 in 2021. The weighted average number of common shares outstanding during 2021 was 200,000 shares. Gravel paid $250,000 in dividends on preferred stock, which was convertible into 40,000 shares of common stock. How much is diluted earnings per share for 2021? Select one: o a. $22.50 O b. $17.71 O C. $21.25 O d. $18.75