Pearl Corporation earned net income of $316,800 in 2020 and had 91,000 shares of common stock outstanding throughout the year. Also outstanding all year was $800,000 of 5% bonds, which are convertible into 17,000 shares of common. Pearls tax rate is 30 percent. Compute Pearls 2020 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.)

Diluted earnings per share