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On January 2, 2019, Ali Co. issued at par 2,000,000 of 7% convertible bonds. Each 1,000 bond is convertible into 20 ordinary shares. All bonds

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On January 2, 2019, Ali Co. issued at par 2,000,000 of 7% convertible bonds. Each 1,000 bond is convertible into 20 ordinary shares. All bonds converted during 2019. Ali had 200,000 ordinary shares outstanding during 2019. Worth's 2019 net income was 600,000 and the income tax rate was 30%. Ali's diluted earnings per share for 2019 would be (rounded to the nearest penny [8 Mark]

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