West Inc. granted 5,000 shares of restricted common stock shares at the beginning of 2020 to company managers that will vest after 4 years of service. Net income for the year is \(\$ 360,000\), and 250,000 common shares were outstanding the entire year. The fair value of the shares on January 1,2020 , is \(\$ 25\) per share. The average market price of common shares in 2020 is \(\$ 25\) per share.

a. Compute basic earnings per share.

b. Compute diluted earnings per share.