1. Selected information from SAG Corp's financial activities in the year 2009 is as follows:
·Net income was $7,650,000.
·1,100,000 shares of common stock were outstanding on January 1.
·The average market price per share was $62 in 2009.
·Dividends were paid in 2009.
·The tax rate was 40 percent.
·10,000 shares of 6 percent $1,000 par value preferred shares convertible into common shares at a rate of 20 common shares for each preferred share were outstanding for the entire year.
·70,000 options, which allow the holder to purchase 10 shares of common stock at an exercise price of $50 per common share, were outstanding the entire year.
SAG Corp's Diluted earnings per share (Diluted EPS) was closest to: