6. At the end of 2021, Forest Co. had 225,000 shares of $1 par common stock outstanding, and 30,000 shares of $40 par convertible noncumulative 8% preferred stock outstanding. Each preferred share can be converted into 3 shares of common stock. During 2022: On January 1, 2022, Forest issues $1,750,000 of 5-year, 6% convertible bonds at par. The bonds are convertible into 55,000 shares of common stock. The bonds pay interest annually at December 31 each year. No bonds are converted in 2022. Forest uses the book value approach to record bond conversions. Forest has 7,000 outstanding stock options with an exercise price of $32 and 3,000 outstanding stock options with an exercise price of $27. The average market price of Forest's stock was $30 throughout 2022. On September 30, 2022, Forest purchases 50,000 common shares for treasury. Forest's 2022 tax rate is 21%. Forest's net income for 2022 is $1,670,500. No dividends are declared during 2022. a. (4%) What is Forest's basic EPS for 2022? b. (8%) What is Forest's diluted EPS for 2022?