On January $2,2025,$ Crane Co$.$ issued at par $$10100$ of $7\%$ bonds convertible in total into $1000$ shares of Crane's common stock. No bonds were converted during $2025.$ Throughout $2025,$ Crane had $1000$ shares of common stock outstanding. Crane's $2025$ net income was $$4800,$ and its income tax rate is $30\%.$ No potentially dilutive securities other than the convertible bonds were outstanding during $2025.$ Crane's diluted earnings per share for $2025$ was

$$2\mathrm{.}65.$

$$2\mathrm{.}70.$

$$5\mathrm{.}29.$

$$2\mathrm{.}40.$