On January 2, Y8, Lucan Ltd. issued at par $ 300,000, 9% convertible bonds. Each $ 1,000 bond is convertible into 30 shares. No bonds were converted during Y8. There were 50,000 common shares outstanding during Y8 (no preferred shares issued). Lucan's Y8 net income was $ 160,000 and their income tax rate was 30%. Lucan's diluted earnings per share for Y8 would be Question 37 options: $3.03 $3.20 $6.00 $3.13