on december 31, 2023, chi chow company had outstanding 570,000 shares of common stock and 57,000 shares of 8% cumulative preferred stock (par $10). february 28, 2024, issued an additional 53,000 shares of common stock september 1, 2024, 10,700 shares were retired. a 12% stock dividend was declared and distributed on july 1, 2024. at year-end, there were fully vested incentive stock options outstanding for 47,000 shares of common stock (adjusted for the stock dividend). the exercise price was $16. the market price of the common stock averaged $20 during the year. also outstanding were $1,000,000 face amount of 10% convertible bonds issued in 2021 and convertible into 67,000 common shares (adjusted for the stock dividend). net income was $1,070,000. the tax rate for the year was 25%. required: compute basic and diluted eps for the year ended december 31, 2024. note: round your answers to 2 decimal places.