(b) On 31 December 2016, Donald Limited ("Donald") had the following common stock, convertible preference stock, stock options, and convertible bonds outstanding: . 384,000 shares of common stock 54,000 shares of 596, $100 par, non-cumulative preferred stock (convertible into 98,000 common shares) . $4,500,000, 6% convertible bonds issued at par. Each $1,000 bond is convertible into 125 shares of common stock As part of an incentive compensation plan, Donald granted stock options to top executive management of the current and each of the previous two years. Each option permits its holder to buy one share of common stock at an exercise price equal to market value at the date of grant. Information concerning the number of options granted and common share prices follows Date Granted Share Price (S 1 September 2015 31 May 2016 31 December 2017 Number of Options Granted adjusted for the stock dividend 226,000 197,580 320,800 90 82 During 2017, the average market price of the common shares was $82 with a closing price of $32 on 31 December 2017. None of the stock options, convertible preferred stock, or convertible bonds were exercised or converted during the vear Donald issued a 10% common stock dividend on 15 May and paid cash dividends to common and preferred shareholders respectively on 15 November 2017. On 1 March, 2017, Donald issued 64,800 shares of new common stock. Net income for 2017 was $756,000. The income tax rate is 35%. Required Compute Donald Limited's Diluted Earnings per Share (EPS) for 2017. Answer should be rounded to 2 decimal places (15 marks)