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On January 1,2024, Wertheim Company had 60,000 shares of common stock outstanding and 20,000 shares of 8%,$40 par, cumulative preferred stock outstanding. It also had stock options giving key personnel the option to buy 16,000 common shares at $22 each. Net income for 2024 was $185,000. The income tax rate is 25%. During 2024, the average market price of the common shares was $42. Compute the 2024 diluted earnings per share for Wertheim Company: • $1.59 • $1.79 • $1.77 • $2.74
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