Cottrell Lamps reported a net income of $530,000 for the current year. In addition Cottrell Lamps had 50,000 common shares outstanding throughout the year, an income tax rate of 34%; and has $100,000 in 6% convertible bonds outstanding, that are convertible to 25,000 common shares. Using the if-converted method, how much will net income increase in the diluted EPS calculation compared to the basic EPS? Select answer from the options below $0 $3,960 $6,000 $2,040