Rudyard Corporation had 130,000 shares of common stock and 13,000 shares of 8%. $100 par convertible preferred stock outstanding during the year. Net income for the year was $460,000 and dividends were paid to both common and preferred shareholders. Rudyard's effective tax rate is 25% Each share of preferred stock is convertible into four shares of common stock. What is Rudyard's diluted EPS (rounded)? Multiple Choice $2.53. $4.34. $3.20