Last year, East Corporation reported basic and diluted EPS in an amount less than basic EPS due to outstanding stock options. Those options were excercised on January 1 of the current year. During the current year, East Corporation had 7.5 million shares of common stock outstanding. Two thousand nine hundred 10% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning of the year East reported net income of $2.9 million for the year. Each bond is convertible into 10 shares of common stock. The tax rate is 25%. What is diluted EPS (rounded? (Round your answer to 2 decimal places. Do not round your intermediate calculations.) Multiple Choice $039 O 50.35 O 5036 50.43