19 Major Corporation had 40,000 shares of common stock outstanding during 2019 with the following characteristics: Par value per share 5 10 Average market value per share 5 50 Market value per share on 12f31f2016 5 60 The company also has compensatory share options to purchase 5,000 shares of common stock at $40 a share during the vear. The unrecognized compenstion cost [net of tax) related to these share options is $5 per share. Net income for the year was $35,000. Required: Compute the basic and diluted earnings per share for Major Corporation