Shevlin Inc. had 700,000 shares of common stock outstanding at December 31, 2019. Shevlin issued an additional 60,000 shares of common stock on October 1, 2020. Shevlin also had $20,000,000 of 3% convertible bonds outstanding throughout 2020, which are convertible into a total of 400,000 shares of common stock. These convertible bonds were originally issued at par. Shevlins net income for the year ended December 31, 2020, was $2,200,000. Assuming the applicable income tax rate was 25%, diluted earnings per share for 2020 should be

$1.97 per share

$2.00 per share

$2.11 per share

$2.38 per share

$2.51 per share

None of the above