Wildhorse Corporation earned net income of $400,000 in 2017 and had 250,000 shares of common stock outstanding throughout the year. Also outstanding all year was $1,000,000 of 8% bonds, which are convertible into 20,000 shares of common. Wildhorse's tax rate is 25 percent. Compute Wildhorse's 2017 diluted earnings per share (round to nearest two decimals)