Sarasota Corporation reported net income of $259,140 in 2017 and had 52,100 shares of common stock outstanding throughout the year. Also outstanding all year were 4,800 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Sarasotas tax rate is 40%. Compute Sarasotas 2017 diluted earnings per share. (Round answer to 2 decimal places, e.g. 3.55.) Diluted earnings per share