Marion Company has 30,000 shares of common stock outstanding during all of Year 3. This common stock has been selling at an average market price of $45 per share. Marion also has outstanding for the entire year compensatory share options to purchase 4,000 shares of common stock at $32 per share. The unrecognized compensation cost (net of tax) relating to these share options is $3 per share. During Year 3, Marion earned income of $36,000 after income taxes of 30%.
Required:
Compute Marion's Year 3 diluted earnings per share. If required, round your answer to two decimal places.