Question $16$ of $40$

$\frac{-}{2\mathrm{.}5}$

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Cullumber Co$.$ had $203000$ shares of common stock, $20500$ shares of convertible preferred stock, and $$1495000$ of $6\%$ convertible bonds outstanding during $2025.$ The preferred stock is convertible into $40900$ shares of common stock. During $2025,$ Cullumber paid dividends of $$0\mathrm{.}90$ per share on the common stock and $$2$ per share on the preferred stock. Each $$1000$ bond is convertible into $30$ shares of common stock. Cullumber's net income for $2025$ was $$597000$ and its income tax rate was $30\%.$

Basic earnings per share for $2025$ is

$$2\mathrm{.}00$

$$2\mathrm{.}36.$

$$2\mathrm{.}45.$

$$2\mathrm{.}74$

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