At December 31 2010 Kifer Company had 500000 shares of common stock outstandin

At December 31 2010 Kifer Company had 500000 shares of common stock outstanding. On October 1 2011 an additional 100000 shares of common stock were
issued. In addition Kifer had $10000000 of 6% convertible bonds outstanding at December 31 2010 which are convertible into 225000 shares of common stock.
No bonds were converted into common stock in 2011. The net income for the year ended December 31 2011 was $3000000. Assuming the income tax rate was 30%
what would be the diluted earnings per share for the year ended December 31 2011 (rounded to the nearest penny)? Show all computations. (Points : 25)