A firm's financial statements reflect the following:
| Net income | $1700000 |
| EBIT | $2900000 |
| Effective tax rate | 35% |
| Interest payments | $285000 |
| Comon equity | $3100000 |
| Total assets | $6600000 |
| Preferred dividends paid | $1100000 |
| Weighted avg. shares outstanding | 523000 |
Based on this information, what is the firm's basic EPS?（ ）
The firm's basic EPS=($1700000-$1100000)/523000=$1.147.