Red Wings Company had 560,000 common shares and 50,000 shares of nonconvertible, $5 par value, 2% preferred shares outstanding at the beginning of the year. It issued $30,000 common shares on December 1. Red Wings also had 100,000 shares of $10 par value, 5% convertible preferred shares outstanding at the beginning of the year. Each preferred share is convertible into one share of common stock. Red Wings's net income for the year was $2,000,000, and it was subject to a 25% income tax rate. What is the basic and diluted EPS for Red Wings? Round to the nearest penny