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At December 31, 2024, Sandhill Company had 1200000 shares of common stock outstanding. On October 1, 2025, an additional 410000 shares of common stock were issued. In addition, Sandhill had $14000000 of 7% convertible bonds outstanding at December 31,2024 that are convertible into 800000 shares of common stock. No bonds were converted into common stock in 2025. The net income for the year ended December 31, 2025, was $5243050. Assuming an income tax rate of 30%, what is diluted earnings per share for the year ended December 31,2025 ? a. $4.03 b. $2.96 c. $2.17 d. $2.82
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