1. A firm has 5.5million shares outstanding in the first quarter of its fiscal year; has 3.9million shares outstanding in the second quarter of its fiscal year; has 3.6million shares outstanding in the second half of its fiscal year. The firms net income distributable to its shareholder is $1.2 million. The firm does not have convertible bonds or options. Please compute its EPS.

A: 0.34

B: 0.29

C: 0.35