Sandhill Corporation reported net income of $$506,000$ in $2023$ and had $625,000$ common shares outstanding throughout the year. On

May $1,2023,$ Sandhill issued $5\%$ convertible bonds. Each $$1,000$ bond is convertible into $120$ common shares. Total proceeds at par

amounted to $$920,000$ and were allocated to the liability and equity components under the residual value methe

component was measured first, at the present value of the stream of interest payments plus the present value of the bond maturity

value, all discounted at $8\%($the interest rate that applies to similar straight bonds$).$ At the time of issuance, the liability component was

recorded at $$849,000.$ Sandhill's tax rate is $30\%.$

Calculate Sandhill's $2023$ diluted earnings per share. $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$