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Cullumber Co$.$ had $201000$ shares of common stock, $21000$ shares of convertible preferred stock, and $$607000$ of $9\%$ convertible bonds outstanding during $2025.$ The preferred stock is convertible into $40000$ shares of common stock. During $2025,$ Cullumber paid dividends of $$0\mathrm{.}54$ per share on the common stock and $$1\mathrm{.}80$ per share on the preferred stock. Each $$1,000$ bond is convertible into $45$ shares of common stock. Cullumber's net income for $2025$ was $$359000$ and its income tax rate was $35\%.$

Diluted earnings per share for $2025$ is

$$1\mathrm{.}54.$

$$1\mathrm{.}47.$

$$1\mathrm{.}34.$

$$1\mathrm{.}40.$

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