In $2022,$ Oriole Ltd$.$ issued $$57,000$ of $8\%$ bonds at par, with each $$1,000$ bond being convertible into $100$ common shares. The company had revenues of $$76,700$ and expenses of $$44,600$ for $2023,$ not including interest and tax. $($Assume a tax rate of $25\%.)$ Throughout $2023,1,800$ 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.$)$

$($a$)$

Your answer is correct.

Calculate income available to common shareholders.

Income available to common shareholders $

Attempts: $1$ of $3$ used

$($b$)$

Your answer is incorrect.

Calculate diluted earnings per share for the year ended December $31,2023.$ For simplicity, ignore the requirement to record the bonds' debt and equity components separately. The bonds are assumed to be converted for the entire year. $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Diluted earnings per share

$