On January 2, 2021, Value Co. issued at par $2,500,000 of 8% convertible bonds. Each $1,000 bond is convertible into 10 shares of common stock. No bonds were converted during 2021. Value had 250,000 shares common stock outstanding during 2021. Value's 2021 net income was $1,120,000 and the income tax rate was 35%. Value's diluted earnings per share for 2021 would be (rounded to the nearest penny)