Luther Corporation Consolidated Income Statement Year ended December 31 (in $millions) Total sales Cost of sales 2006 2005 610.1 578.3 -500.2 -481.9 109.9 96.4 Gross profit Selling, general, and administrative expenses Research and development Depreciation and amortization Operating income Other income -40.5 -39.0 -24.6 -22.8 3.6 -3.3 41.2 31.3 Earnings before interest and taxes (EBIT) 41.2 31.3 Interest income (expense) -25.1 -15.8 Pretax income 16.1 15.5 Taxes -5.5 -5.3 Net income 10.6 10.2 Price per share $16 $15 Sharing outstanding (millions) 10.0 8.1 Stock options outstanding (millions) 0.3 0.2 Stockholders' Equity 126.6 63.6 Total Liabilities and Stockholders' Equity 533.1 386.7 Refer to the income statement above. Assuming that Luther has no convertible bonds outstanding, then for the year ending December 31, 2006 Luther's diluted earnings per share are closest to A) $1.03 B) $0.51 C) $0.82 D) $1.23