XYZ Inc earned net income of $341,360 during the current fiscal year and had 113,790 common shares outstanding throughout the year. Also outstanding all year were $910,290 carrying value of 11.05%-coupon bonds convertible into 29,550 common shares in total. The company's tax rate is 26.63%. Ignoring the IFRS requirement to record the debt and equity components of the bonds separately, what is the company's fully diluted earnings per share?

a.

$3.04

b.

$2.75

c.

$2.97

d.

$2.82

e.

$2.90