Aero Ltd. had the following excerpts from its liabilities and shareholders' equity on January 1, 2022:

Bonds B- $1,000,000, 3.5%, bonds maturing September 30, 2037. At the option of the holder, each $1,000 bond can be converted into 18 common shares at any time prior to maturity. At the time of issue several years ago the yield rate was also 3.5%

Preferred shares- 10,000 of $100 face value cumulative - dividend rate of 2%

Common shares- 400,000 authorized, 100,000 issued and outstanding.

The following events occurred in 2022:

-Net income was $200,000;

-A one-for-two (reverse stock split) was enacted on June 1, 2022;

-Repurchased 6,000 common shares on October 1, 2022

-On October 1, 2022, issued Bonds A- $2,000,000 3% five year bonds when the yield rate was also 3%. At the option of the holder, each $1,000 bond can be converted into 8 common shares at any time prior to maturity.

-No dividends were declared in 2022.

-The corporate tax rate is 20%.

Required:

1. Compute Aero's basic earnings per share for 2022;
2. Compute Aero's diluted earnings per share for 2022.
3. For this part only, assuming that in computing its' basic and diluted earnings per share in 2021, Aero had respectively 100,000 and 105,000 as the WACS, and that Aero discloses 2021 earnings per share numbers in its 2022 financial statements, what would be the WACS used for the 2021 eps numbers in its 2022 financial statements?