Rudyard Corporation had 300,000 shares of common stock and 30,000 shares of 6%,$100 par convertibie preferred stock outstanding during the yeati Net income for the year was 5800,000 and dividends were paid to both common and preferred sharehoiders. Rudyard's effective tax rate is 25% Each share of preferred stock is convertible into five shares of common stock. What is Rudyard's diluted EPS (rounded)? Multiple Choice $2.42. $3.80 ] 27. $1.78