i cannot figure out what i am doung wring to get to this answer.

X 1. Demeter Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock that is convertible into 40,000 shares of common stock. During 2018, Demeter paid dividends of $.55 per share on the common stock and $1.80 per share on the preferred stock. The net income for 2018 was $360,000 and the income tax rate was 30%. Basic earnings per share for 2018 is (rounded to the nearest penny) * (0/1 Point) $1.25 $1.45 $1.50 $1.62