Omega had a basic EPS of P2.13 based on earnings of 105,000 and 100,000 ordinary shares issued at P1 each in 2022. It also had in issue 40,000 15% convertible loan stock which is convertible in two years time at the rate of 4 ordinary shares for every 5 of stock. The rate of tax is 25.23%. In 2022 gross profit of P331,241.25 and expenses of P78,213.56 were recorded, including interest payable of P7,223.78

Calculate the diluted EPS based on the four steps as per IAS 33 Earnings per Share