Information concerning the capital structure of Piper Corporation is as follows: December 31 2018 2017 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 2018, Piper paid dividends of $0.80 per share on its common stock and $2.00 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, 2018, was $400,000. Assume that the income tax rate was 30%. What should be the diluted earnings per share for the year ended December 31, 2018, rounded to the nearest penny? O $2.09 O $1.96 O $1.78 $2.23