During 2021, Farewell Inc. had 502,000 shares of common stock and 51,000 shares of 4% cumulative preferred stock outstanding. The preferred stock has a par value of $100 per share. Farewell did not declare or pay any dividends during 2021. Farewell's net income for the year ended December 31, 2021, was $2.7 million. The income tax rate is 15%. Farewell granted 12,000 stock options to its executives on January 1 of this year. Each option gives its holder the right to buy 20 shares of common stock at an exercise price of $31 per share. The options vest after one year. The market price of the common stock averaged $32 per share during 2021. What is Farewell's diluted earnings per share for 2021, rounded to the nearest cent