On January 1, 2020, Pharoah Company issued 10-year, $2,140,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 14 shares of Pharoah common stock. Pharoah's net income in 2020 was $482,300, and its tax rate was 20%. The company had 91,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ 3.35