On January 2, 2024, Larocque Company issued at face value $21,500 of 4% bonds convertible in total into 1,300 shares of Larocque's common stock. No bonds were converted during 2024. Throughout 2024, Larocque had 1,300 shares of common stock outstanding. Larocque's 2024 net income was $3,500. Larocque's income tax rate is 20%. No potential common shares other than the convertible bonds were outstanding during 2024. Larocque's diluted earnings per share for 2024 would be:

On January 2, 2024, Larocque Company issued at face value $21,500 of 4% bonds convertible in total into 1,300 shares of Larocque's common stock. No bonds were converted during 2024. Throughout 2024, Larocque had 1,300 shares of common stock outstanding. Larocque's 2024 net income was $3,500. Larocque's income tax rate is 20%. No potential common shares other than the convertible bonds were outstanding during 2024. Larocque's diluted earnings per share for 2024 would be: Multiple Choice $2.69. $1.61. $1.68. $1.35