On January $1,2024,$ Jaewoo Industries had outstanding $520,000$ common shares $($$$1$ par$)$ that originally sold for $$25$ per share, and $8,000$ shares of $10\%$ cumulative preferred stock $($$$100$ par$),$ convertible into $80,000$ common shares.

On October $1,2024,$ Jaewoo sold and issued an additional $16,000$ shares of common stock at $$41.$

At December $31,2024,$ there were $24,000$ incentive stock options outstanding, issued in $2023,$ and exercisable after one year for $24,000$ shares of common stock at an exercise price of $$38.$

The market price of the common stock at year$-$end was $$56.$

During the year, the price of the common shares had averaged $$48.$

Net income was $$660,000.$ The tax rate for the year was $25\%.$

Required:

Compute basic and diluted EPS for the year ended December $31,2024.$On January $1,2024,$ Jaewoo Industrles had outstanding $520,000$ common shares $($ $$1$ par$)$ that originally sold for $$25$ per

share, and $8,000$ shares of $10\%$ cumulative preferred stock $($ $$100$ par$),$ convertible into $80,000$ common shares.

On October $1,2024,$ Jaewoo sold and issued an additional $16,000$ shares of common stock at $$41.$

At December $31,2024,$ there were $24,000$ incentlve stock options outstanding, Issued in $2023,$ and exercisable after

one year for $24,000$ shares of common stock at an exercise price of $$38.$

The market price of the common stock at year$-$end was $$56.$

During the year, the price of the common shares had averaged $$48.$

Net Income was $$660,000.$ 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 Intermedlate calculatlons. 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.

Answer is complete but not entirely correct.