Question 9 of 19 10/20 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. On January 1, 2020, Ivanhoe Company issued 10-year $1,890,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Ivanhoe common stock. Ivanhoe's net income in 2020 was $470.000, and its tax rate was 20%. The company had 94,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, es. $255.) Diluted earnings per share $ 4.51 (b) Compute diluted earnings per share for 2020, assuming the same facts as above, except that $940,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Ivanhoe common stock. (Round answer to 2 decimal places, es $2.55.) Diluted earnings per share 3,73 e Textbook and Media