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What is Owls diluted earnings per share

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Question - In 2020, Owl Co. had $900,000 net income with $100,000 declared common dividends, a 25% tax rate, and 200,000 common shares outstanding all year. On April 30, 2020, Owl issued its only dilutive security, $2,000,000, 6%, 9-year bonds at par, convertible to 60,000 common shares. What is Owl's 2020 diluted earnings per share?

a. $4.00

b. $3.81

c. $4.08

d. $3.58

Reference no: EM132531834

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