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View Policies Current Attempt in Progress At December 31, 2020, Sheridan Company had 1940000 shares of common stock outstanding. On January 1, 2021, Sheridan issued 495000 shares of preferred stock which were convertible into 940000 shares of common stock. During 2021. Sheridan declared and paid $1130000 cash dividends on the common stock and $392000 cash dividends on the preferred stock. Net income for the year ended December 31, 2021, was $5030000. Assuming an income tax rate of 28%, what should be diluted earnings per share for the year ended December 31, 2021? (Round to the nearest penny.) $2.59 $2.15 O $1.58 O $1.75