Question 1. At December 31, 2022, you have the following information for preparing earnings per share for the Corp. Net income for 2022 $500 million Common stock, $1 par Shares outstanding on January 1 Shares purchased and retired on February 1 2-for-1 split on July 31 Shares sold for cash on September 1 Preferred Stock, 10%, $70 par, cumulative, nonconvertible Preferred stock, 8%, $50 par, cumulative, convertible into 4 million share of common stock Incentive stock options outstanding, fully vested, for 4 million shares of common stock, exercise price is $15 Bonds payable, 10%, convertible into 20 million shares of common stock 150 million shares 24 million shares 18 million shares $ 70 million $100 million $200 million Additional info: The market price of the common stock averaged $20 during 2022. The convertible preferred stock and the bonds payable had been issued at par in 2020. The tax rate for 2022 is 25%. For the year ended December 31, 2022, compute: a. What is the diluted earnings per share? I