Problem 19-17 (Static) EPS; options; convertible preferred; additional shares [LO19-4, 19-5, 19-6, 19-7, 19- 8, 19-9] On January 1, 2024, Jaewoo Industries had outstanding 440,000 common shares ($1 par) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock ($100 par), convertible into 40,000 common shares. • On October 1, 2024, Jaewoo sold and issued an additional 16,000 shares of common stock at $33. • At December 31, 2024, there were 20,000 incentive stock options outstanding, issued in 2023, and exercisable after one year for 20,000 shares of common stock at an exercise price of $30. . The market price of the common stock at year-end was $48. . During the year, the price of the common shares had averaged $40. • Net income was $650,000. 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 should be entered as 10). Round "Earnings per share" answer to 2 decimal places.