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On January 2, 2020, Helisinki Ltd. issued at par $300,000, 9% convertible bonds. Each $1,000 bond is convertible into 30 shares. No bonds were converted

On January 2, 2020, Helisinki Ltd. issued at par $300,000, 9% convertible bonds. Each $1,000 bond is convertible into 30 shares. No bonds were converted during 2020. There were 50,000 common shares outstanding during 2020 (no preferred shares issued). Helsinkis 2020 net income was $160,000 and their income tax rate was 30%. Helsinkis diluted earnings per share for 2020 would be

a) $3.20.

b) $3.58.

c) $2.71.

d) $3.03.

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