Bridgeport Horizon Corp had the following items, all of which were outstanding throughout the entire fiscal year ending September 30, 2021:

		800,000 common shares
		300,000 $ 3 cumulative, no-par value preferred shares
		Options to purchase 100,000 common shares at $ 12 per share. The average market price of Bridgeports common shares during the year was $ 20 per share. None of the options were exercised or expired during fiscal 2021
		9% bond with a face value of $ 2,100,000, convertible to 53,000 common shares.

Bridgeports net income for fiscal 2021 was $ 6,700,000, and its tax rate was 15%. Preferred dividends had been paid in all previous fiscal years.

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Calculate the proceeds from assumed exercise of options. $ Proceeds from exercise of options 1200000 Calculate the incremental shares oustanding upon the exercise of options. The incremental shares oustanding upon the exercise of options Calculate Bridgeport's diluted earnings per share for the year. (Round calculations of EPS to 3 decimal places, e.g. $3.545 and provide final answer to 2 decimal places, eg. 15.25.) Numerator Denominator EPS Basic EPS 5800000 800000 7.25 Options 0 Sub Total 5800000 800,000 A 7.25 9% bonds 160650 53000 Sub Total $ $ 5960650 853,000 $ 6.99 Diluted EPS 6.99