Suppose net income for the preceding period is $500,000. Suppose the weighted average number of common shares outstanding is 250,000 shares. Suppose there are 20,000 options owned by employees that are exercisable to the company at $38/share. The average price over the preceding period was $70/share. Assume also there are no other securities besides common shares and options. What is diluted EPS for the preceding period? (do not include "$" and round to the nearest penny. So if the answer is $1.234, then write "1.23".