Company X has 500,000 shares of common stock outstanding. Its net income for the past year was $750,000. It also has 300 convertible preferred shares with a par value of $1000 per share. Each preferred share pays a dividend of 12% of par value and can be converted to 50 common shares. The tax rate is 30%. What is the diluted EPS? Round your final answer to 2 decimal places.