CNZ Co. had 1,200,000 shares outstanding at the beginning of the year—1 June 20X8. During the year, the following transactions occurred:
1 August 20X8—5,000 share options with an exercise price of $35 per share, were exercised.
1 October 20X8—A 3:1 stock split was completed.
1 February 20X9—The company repurchased 500,000 shares for $20 each.
For the year ended 31 May 20X9, the company reported net earnings of $1,757,000.

Required:
Compute the basic EPS for the company for the year ended 31 May 20X9.