Jones Corp.'s capital structure was as follows:

			December 31 Year 2
Outstanding shares of stock:
	Common		225,000
	Convertible preferred		15,000
8% convertible bonds			$2,000,000

During Year 2, Jones paid dividends of $5.00 per share on its preferred stock. The preferred shares are convertible into 30,000 shares of common stock. The 8% bonds are convertible into 50,000 shares of common stock. Net income for Year 2 is $927,000. Assume that the income tax rate is 35%.

The diluted earnings per share for Year 2 is: (enter answer to 2 decimal points)