ABC Co. issued $300,000, 5% convertible bonds in 2019 at face value. Each $1,000 bond is convertible into 200 shares of common stock. ABC's net income for 2020 is $1,500,000; the tax rate is 25%. No bonds were converted during the year and average common shares outstanding are 1,100,000. 1. Compute basic EPS 2. Compute diluted EPS 3. Re-compute basic and diluted EPS assuming that the bonds were issued on July 1, 2019. YOU MUST SHOW YOUR WORK FOR FULL CREDIT