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Last year, East Corporation reported basic and diluted earnings per share in an amount less than...

Last year, East Corporation reported basic and diluted earnings per share in an amount less than basic EPS due to outstanding stock options. Those options were exercised on January 1 of the current year. During the current year, East Corporation had 15.5 million shares of common stock outstanding. Three thousand nine hundred 12% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning at the beginning of the year. East reported net income of $3.9 Million for the year. Each bond is convertible into 10 shares of common stock. The tax rate is 25%. What is diluted EPS (rounded)? (round your answer to 2 decimal places. Do not round your intermediate calculations).

Multiple Choices

A. $0.23

B. $0.28

C. $0.22

D $0.25

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