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Ayayai Corporation reported net income of $$256,960$ in $2020$ and had $47,400$ shares of common stock outstanding throughout the year. Also outstanding all year were $5,500$ shares of cumulative preferred stock, each convertible into $2$ shares of common. The preferred stock pays an annual dividend of $$5$ per share. Ayayai's tax rate is $50\%.$

Compute Ayayai's $2020$ diluted earnings per share. $($Round answer to $2$ decimal places, e$.$g$.3\mathrm{.}55.)$

Diluted earnings per share $

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