Last year, Wahlen Corporation reported basic and diluted EPS in an amount less than basic EPS due to outstanding stock options. Those options were exercised on January 1 of the current year.

During the current year, Wahlen Corporation had 2.5 million shares of common stock outstanding. Two thousand one hundred 12% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning of the year. Wahlen reported net income of $2.1 million for the year. Each bond is convertible into 10 shares of common stock. The tax rate is 30%. What is diluted EPS (rounded)?

Note: Round your answer to 2 decimal places.