On January $1,2024,$ Jaewoo Industries had outstanding $500,000$ common shares $($$$1$ par$)$ that originally sold for $$20$ per share, and $7,000$ shares of $10\%$ cumulative preferred stock $($$$100$ par$),$ convertible into $70,000$ common shares.

On October $1,2024,$ Jaewoo sold and issued an additional $12,000$ shares of common stock at $$39.$

At December $31,2024,$ there were $23,000$ incentive stock options outstanding, issued in $2023,$ and exercisable after one year for $23,000$ shares of common stock at an exercise price of $$36.$

The market price of the common stock at year$-$end was $$54.$

During the year, the price of the common shares had averaged $$46.$

Net income was $$640,000.$ The tax rate for the year was $25\%.$ On January $1,2024,$ Jaewoo Industries had outstanding $500,000$ common shares $(\backslash (\backslash$$ $1\backslash )$ par$)$ that originally sold for $\backslash (\backslash$$ $20\backslash )$ per share, and $7,000$ shares of $10\backslash \%$ cumulative preferred stock $(\backslash$$$100$ par$),$ convertible into $70,000$ common shares.

$-$ On October $1,2024,$ Jaewoo sold and issued an additional $12,000$ shares of common stock at $\backslash$$$39.$

$-$ At December $31,2024,$ there were $23,000$ incentive stock options outstanding, issued in $2023,$ and exercisable after one year for $23,000$ shares of common stock at an exercise price of $\backslash (\backslash$$ $36\backslash ).$

$-$ The market price of the common stock at year$-$end was $\backslash$$$54.$

$-$ During the year, the price of the common shares had averaged $\backslash (\backslash$$ $46\backslash ).$

$-$ Net income was $\backslash (\backslash$$ $640,000\backslash ).$ The tax rate for the year was $\backslash (25\backslash \%\backslash ).$

Required:

Compute basic and diluted EPS for the year ended December $31,2024.$

Note: Do not round intermediate calculations. 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 $\backslash (\backslash$mathbf$\{2\}\backslash )$ decimal places.