CNZ Co had 1,290,000 shares outstanding at the beginning of the year-1 June 20x8. During the year, the following transactions occurred;

1 August 20X8-5,900 share options with an exercise price of $44 per share, were exercised.

1 October 20X8-A 5:1 stock split was completed.

1 February 20x9-The company repurchased 509,000 shares for $29 each.

For the year ended 31 May 20x9, the company reported net earnings of $1,722,500 Required: Compute the basic EPS for the company for the year ended 31 May 20X9. (Do not round intermediate calculations and round your answer to 2 decimal places.) Basic EPS