3 points eBook Print On January 1, 2024, Jaewoo Industries had outstanding 620,000 common shares ($1 par) that originally sold for $20 per share, and 7,000 shares of 10% cumulative preferred stock ($100 par), convertible into 70,000 common shares. On October 1, 2024, Jaewoo sold and issued an additional 20,000 shares of common stock at $38. At December 31, 2024, there were 27,000 incentive stock options outstanding, issued in 2023, and exercisable after one year for 27,000 shares of common stock at an exercise price of $35. The market price of the common stock at year-end was $53. During the year, the price of the common shares had averaged $45. Net income was $760,000. The tax rate for the year was 25%. Required: Compute basic and diluted EPS for the year ended December 31, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,000 should be entered as 10). Round "Earnings per share" answer to 2 decimal places. References Numerator Basic Diluted -|- Denominator II = Earnings per share