On January 1,2024, Jaewoo Industries had outstanding 740,000 common shares ( $1 par) that originally soid 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 $41 - At December 31,2024 , there were 24,000 incentive stock options outstanding, issued in 2023, and exercisable after one year for 24,000 shares of common stock at an exercise price of $38. - The market price of the common stock at year-end was $56. - During the year, the price of the common shares had averaged $48 - Net income was $880,000. 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 shoul be entered as 10). Round "Earnings per share" answer to 2 decimal places