Jostens Co$.$ had $200,000$ shares of common stock, $20,000$ shares of convertible preferred

stock, and $$1,000,000$ of $10\%$ bonds outstanding during $2024.$ The preferred stock is

convertible into $20,000$ shares of common stock. During $2024,$ Jostens paid dividends of

$$1\mathrm{.}20$ per share on its common stock and $$3\mathrm{.}00$ per share on its preferred stock. Each

$$1,000$ bond is convertible into $30$ shares of common stock. The net income for the year

ended December $31,2024$ was $$800,000.$ Assume the income tax rate was $30\%.$ Diluted

earnings per share for $2024($rounded to the nearest cent$)$ are:

Select one:

a$.$ $$3\mathrm{.}64$

b$.$ $$3\mathrm{.}72$

c$.$ $$3\mathrm{.}36$

d$.$ $$3\mathrm{.}48$

e$.$ $$3\mathrm{.}22$