On January $1,2024,$ Wertheim Company had $60,000$ shares of common stock outstanding and $20,000$ shares of $8\%,$$$40$ par, cumulative preferred stock outstanding. It also had stock options giving key personnel the option to buy $16,000$ common shares at $$22$ each. Net income for $2024$ was $$185,000.$ The income tax rate is $25\%.$ During $2024,$ the average market price of the common shares was $$42.$

Compute the $2024$ diluted earnings per share for Wertheim Company: