Question $24$ of $25$

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Pharoah Co$.$ had $205000$ shares of common stock, $19800$ shares of convertible preferred stock, and $$1494000$ of $5\%$ convertible bonds outstanding during $2025.$ The preferred stock is convertible into $39700$ shares of common stock. During $2025,$ Pharoah paid dividends of $$1\mathrm{.}00$ per share on the common stock and $$4$ per share on the preferred stock. Each $$1000$ bond is convertible into $30$ shares of common stock. Pharoah's net income for $2025$ was $$593000$ and its income tax rate was $30\%.$

Basic earnings per share for $2025$ is

$$2\mathrm{.}33.$

$$2\mathrm{.}51.$

$$2\mathrm{.}17.$

$$2\mathrm{.}42.$

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