Net income after tax = $975,000 Beginning of year outstanding common shares = 387,450 Par value of bonds in total = $3,000,000 Stated and market rate of interest = 4% Total number of shares that the bonds are convertible into = 187,000 Tax rate = 21% Basic earnings per share = $2.52 Compute net income available to common shareholders for the diluted earnings per share calculation. Compute weighted average shares outstanding for the diluted earnings per share calculation. Question 3 3 pts Diluted earnings per share is: 2.52 1.86 2.76 1.91 1.7