On December $31,2023,$ Francis Industries had $120$ million common shares outstanding. Also outstanding at $12/31/2023$ were stock options to buy $12$ million of FI's common

shares at an exercise price of $$20$ per share. During $2024,$ FI's average stock price was $$30$ per share. On July $1,2024,$ FI repurchased $12$ million shares in order to have treasury

shares available in case the option holders exercised the options. This proved wise because on $9/1/2024,$ the option holders exercised their options.

Francis also issued $1$ million shares of $3\%,$ noncumulative but convertible preferred stock with a par value of $$100$ for $$110$ per share on January $1,2024.$ Each preferred share is

convertible into $5$ shares of Francis common stock. No shares were converted in $2024.$ On December $1,2024,$ Francis declared the current preferred dividend, payable on

January $15,2025.$

For the year ending December $31,2024,$ FI's net income was $$42$ million. Find Fl$\text{'}$s Diluted EPS, rounded to the nearest penny.