Swing Co. had 225,000 shares of common stock outstanding from the beginning of the year. On May 1, the company issued 66,000 stock options to its key executives. Each option allows the executives to purchase 1 share of Swing's common stock for $17 each. The average price of the Bay's common stock was $24 per share. Net income is $2,000,000. Compute Swing's diluted EPS. (Round your answer to the nearest cent.)