Information concerning the capital structure of Piper Corporation is as follows:

December 31,

2015 2014

Common stock 150,000 shares 150,000 shares

Convertible preferred stock 15,000 shares 15,000 shares

6% convertible bonds $2,400,000 $2,400,000

During 2015, Piper paid dividends of $0.60 per share on its common stock and $1.50 per share on its preferred stock. The preferred stock is convertible into 30,000 shares of common stock. The 6% convertible bonds are convertible into 75,000 shares of common stock. The net income for the year ended December 31, 2015, was $300,000. Assume that the income tax rate was 30%.

What should be the diluted earnings per share for the year ended December 31, 2015, rounded to the nearest penny?