3. In 2021 Our Company had Net Income of $825,000. On 1/1/21, there were 250,000 shares of common stock outstanding. On 4/1/21, we issued 54,000 shares of common stock. On 6/1/21, we issued 36,000 shares of $100 par value, 6% cumulative preferred stock. This preferred stock is convertible into 72,000 shares of common stock. On 9/1/21, we issued $9,000,000 of 4% bonds at par. These bonds are convertible into 60,000 shares of common stock. The marginal tax rate is 30%. In addition, there are 130,000 options outstanding at 12/31/21. Each option entitles the holder to exchange it for 1 share of common stock at an exercise price of $22 per share. The average market price for common stock for 2021 was $60. Be sure to show your calculations! Answer: Required: How much is Basic Earnings Per Share? How much is Diluted Earnings Per Share? 4. The following information pertains to Our Company's self-constructed building project Our Company is building a project for its own use. We have been asked to calculate the amount of interest to be capitalized. Specific construction debt: $900,000, 4%, 5-year note, dated 12/31/20, interest paid annually on 12/31 2021 Payments: 1/31/21 415,000 2/28/21 500,000 6/1/21 860,000 12/1/21 725,000 2,500,000 Other debt: $825,000, 5%, annual interest paid 12/31, dated 12/31/20 $1,250,000,7%, 10 year bonds, dated 12/31/17, interest paid 12/31 b. How much is the weighted average of the accumulated expenditures? How much is the weighted average of the interest rates on other debt? How much is the avoidable interest? How much is the actual interest? How much is recorded as the interest expense? How much interest should be capitalized? d. f