DiCenta Corporation reported net income of $286,000 in 2014 and had 59,900 shares of common stock outstanding throughout the year. Also outstanding all year were 6,450 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta’s tax rate is 36%.
Compute DiCenta’s 2014 diluted earnings per share.