*There is a typo in the problem, all years should be 2022

E16.26 (LO 1, 5) (EPS with Convertible Bonds and Preference Shares) On January 1, 2022, Lund SA issued 10- year, 3,000,000 face value, 6% bonds, at par. Each 1,000 bond is convertible into 15 ordinary shares of Lund. Lund's net income in 2023 was 240,000, and its tax rate was 40%. Interest expense on the liability component in 2023 was 210,000. The company had 100,000 ordinary shares outstanding throughout 2022. None of the bonds were converted in 2022. Instructions a. Compute diluted earnings per share for 2022