Current Attempt in Progress

Sandhill Co$.$ had $190000$ shares of common stock, $19500$ shares of convertible preferred stock, and $$609000$ of $12\%$

convertible bonds outstanding during $2025.$ The preferred stock is convertible into $39000$ shares of common stock.

During $2025,$ Sandhill paid dividends of $$0\mathrm{.}54$ per share on the common stock and $$1\mathrm{.}70$ per share on the preferred

stock. Each $$1,000$ bond is convertible into $45$ shares of common stock. Sandhill's net income for $2025$ was $$354000$

and its income tax rate was $30\%.$

Basic earnings per share for $2025$ is

$$1\mathrm{.}69.$

$$1\mathrm{.}53.$

$$1\mathrm{.}29.$

$$1\mathrm{.}49.$

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