Pakison, Inc. had 200,000 shares of $20 par common stock and 20,000 shares of $100 par, 6 percent cumulative, convertible preferred stock outstanding for the entire year ended December 31, 2010. The preferred stock is convertible into 5 shares of common stock. Parkison's net income for 2010 was $840,000.
Diluted earnings per share as of December 31, 2010 was??