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Sunland Company had 191000 shares of common stock, 21000 shares of convertible preferred stock, and $1410000 of 4% convertible bonds outstanding during 2018. The preferred

Sunland Company had 191000 shares of common stock, 21000 shares of convertible preferred stock, and $1410000 of 4% convertible bonds outstanding during 2018. The preferred stock is convertible into 40300 shares of common stock. During 2015, Sunland paid dividends of $0.90 per share on the common stock and $2 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2018 was $591000 and the income tax rate was 35% Diluted earnings per share for 2018 is (rounded to the nearest penny) 


a. $2.56 


b. $2.13 


c. $2.17 


d. $2.29

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