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Sandhill Co$.$ had $198000$ shares of common stock, $20200$ shares of convertible preferred stock, and $$1530000$ of $4\%$ convertible

bonds outstanding during $2025.$ The preferred stock is convertible into $40800$ shares of common stock. During $2025,$ Sandhill paid

dividends of $$1\mathrm{.}00$ per share on the common stock and $$3$ per share on the preferred stock. Each $$1000$ bond is convertible into $30$

shares of common stock. Sandhill's net income for $2025$ was $$594000$ and its income tax rate was $35\%.$

Diluted earnings per share for $2025$ was

$$2\mathrm{.}49.$

$$2\mathrm{.}09.$

$$2\mathrm{.}23.$

$$2\mathrm{.}05.$

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