Sandhill Corporation reported net income of $780,528 in 2023 and had 105,000 common shares outstanding throughout the year. Also outstanding all year were 9.100 cumulative preferred shares, with each being convertible into 4 common shares. The preferred shares pay an annual dividend of $6 per share. Sandhill's tax rate is 45%. Calculate Sandhill's 2023 diluted earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Diluted earnings per share