Daisy company had 300,000 ordinary shares of P20 par value and 30,000 shares of P100 par, 6% cumulative, convertible preference share capital outstanding for the entire year ended December 31, 20B. Each preference share is convertible into 5 ordinary shares. The net income for 20B was P1,260,000. For the year ended December 31, 20B, what amount should be reported as diluted earnings per share?   2.40   2.80   3.60   4.20

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