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$-12\mathrm{.}5,$vdots,vdots

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Ivanhoe Corporation had net income for the year of $$722000$ and weighted average common shares outstanding during the period of $252000$ shares. The company also has a convertible bond issue outstanding. The bonds were issued four years ago at par of $$3050000,$ carry a $7\%$ interest rate, and are convertible into $49500$ shares of common stock. The company has a $15\%$ tax rate. Diluted earnings per share is

$$3\mathrm{.}00.$

$$1\mathrm{.}79.$

$$3\mathrm{.}10.$

$$2\mathrm{.}86.$

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